The five Los Angeles area properties acquired by the privateinvestment company include 8424-8430 Melrose Ave., 5420-5450 SunsetBlvd., 23-931 Montana Ave. in Santa Monica, 368 N. CamdenDr./9528-9548 Brighton Way in Beverly Hills and 8900-8914 SantaMonica Blvd. in West Hollywood.Lotz says that the new acquisitionsfollow the American Commercial strategy of investing in "class Aretail locations in prime commercial districts throughout SouthernCalifornia and Hawaii" as the firm seeks to build its assets forboth near- and long-term.

The company's first-ever purchases in Hawaii include the62,000-sf Aina Haina Community Shopping Center located at 820, 830and 850 Hind Dr. in Honolulu. American Commercial plans arenovation of the busy retail center, which is anchored by aFoodland Supermarket. The company also acquired 1958 Kalakaua Ave.,considered the gateway to Waikiki, and is planning to add moreretail space to the surrounding area.

Separately, brokers from GVA Charles Dunn report that AmericanCommercial has acquired the 88,500-sf Japanese Village Plazashopping center at 335 E. Second St. in Downtown Los Angeles formore than $40.7 million. American Commercial was represented byDavid J. Ickovics, managing director of GVA Charles Dunn'sinvestment services group, with seller JVP Investments Inc.represented by Charles DeSantis, senior managing director of Dunn'scommercial properties group.