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LOS ANGELES-Locally based Wardlow Center Partners LLC sees prospects in El Dorado Shopping Center. The developer has paid $6.8 million for the Long Beach retail complex with plans to rehab it.

The 75,150-sf property is located at 8111 E. Wardlow Rd. It was anchored by TJ Maxx, Big A Drugs and Huffs Restaurant at time of sale. Wardlow Center Partners LLC was represented by Reza Etedali of Sperry Van Ness, who also spoke for the seller, Beverly Hills-based Milco Investments.

Etedali says retail investments are more in favor now than they have been during the past two years because of several factors, including low interest rates and the disappearance of the dot-com threat that once worried retail investors. “Buyers trading from other risky products such as office, hotels and low return investments such as apartments are looking at retail as a great trade opportunity,” he adds.

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