NEWPORT BEACH, CA—GlobeSt.com has learned exclusively that privately held commercial real estate firm Khoshbin Co. has purchased three iconic retail-oriented properties in Newport Beach for $28.9 million from GP’s Landing LLC. The properties, located at 2751 and 2801 Coast Highway and 2620 Avon, consist of 29,341 square feet and a marina and include two well-known landmarks here: Billy’s at the Beach and the Ritz restaurant, formerly the Chart House.

SVPs Alton Burgess and Travis Haining of Lee & Associates Newport Beach represented the buyer, while Brian Barson, an associate from Lee Newport Beach, represented the seller. Khoshbin, based in Irvine, CA, specializes in acquiring, managing and repositioning class-A and -B industrial, retail and office properties.

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