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8100 Melrose Fred Segal is located at 8100 Melrose Ave. in Hollywood.

LOS ANGELES—CormackHill has purchased the iconic Fred Segal retail property in Hollywood from a private investor operating as 8100 Melrose LLC. This is the first time that the property has come to market and the first time that it has traded hands since Fred Segal, who developed the property, sold it to the selling entity 40 years ago. The purchase price of the property was not disclosed.

“The seller has owned the property for the last 15 years, and the family decided to focus on their primary business,” Ed Sachse, executive managing director of the brokerage group at Kennedy Wilson, tells GlobeSt.com. “I don’t believe that this indicates any type of broader trend. This sale was really only predicated because the ownership was really ready to move on. I don’t think that it had anything to do with any market trends.” Sachse represented the seller and the buyer in the transaction, along with EVP Fred Cordova and senior associate Michael Puleo.

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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.

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