HAWAIIAN GARDENS, CA-Defeasance didn’t defeat the deal, but it complicated matters in the recent sale of the 78,815-sf Hawaiian Gardens Town Center, according to Reza Etedali of Irvine-based Reza Investment Group, which brokered the sale on behalf of seller Norwalk-Carson Associates. Etedali explains that the sale of the property involved a complicated process of defeasing an existing conduit loan and placing a new conduit loan on the property.

“With interest rates this low and values increasing,” Etedali says, sellers now often see strategic benefit in paying off their existing conduit financing in order to maximize the sale value. The Hawaiian Gardens Town Center, on the southwest corner of Carson Street and Norwalk Boulevard, occupies nearly 6 acres and is leased by a variety of national and regional tenants. The buyer, a private investor, was represented by Tom Gioia of Lee & Associates.

In another retail sale to close recently in L.A. County, Lee & Associates reports that Lee Properties Ltd. bought a 12,800-sf center at 6885 and 6901 La Tijera Blvd. in Los Angeles from La Tijera-Centinella Co. LLC for $5 million. The seller was represented by Ron Feder of the Lee & Associates-LA North/Ventura office, with the buyer represented by Shaun Riley of Faris Lee Investments. The property is a 100% single-tenant triple net leased investment that is occupied by Chuck E. Cheese.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.