GRANADA HILLS, CA-The Knollwood Plaza, a23,922-square-foot retail center has traded hands. According toindustry sources unrelated to the deal, private investorMarc Needleman purchased the retail center for anestimated $10 million from Westwood FinancialCorp.

NorthMarq secured a $7.2 million loan through aCMBS lender on behalf of the buyer to finance theacquisition. SVP and senior director David R. Blumand SVP and managing director Ory Schwartz ofNorthMarq's Los Angeles office secured a 10-year term loan with a30-year amortization schedule. The transaction includes an 8.0%debt yield.

Located at 11846-11862 Balboa Blvd. in Granda Hills, the retailcenter is anchored by a Fresh & Easy grocerystore. Other tenants include Starbucks, Curves andState Farm Insurance.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 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.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Leasing
Los Angeles
National
Retail