LOS ANGELES — JH Real Estate Partners has acquired the 60,930-square-foot retail portion of NoHo Commons in the Los Angeles submarket of North Hollywood for $43 million. The center is located at 5300 Lankershim Blvd.
The retail space is almost fully leased. Notable tenants include 24 Hour Fitness, Coffee Bean & Tea Leaf, Daphne’s California Greek, Panera Bread, Panda Express, Wells Fargo, Fish Dish and Big Wangs.
NoHo Commons also includes apartment units and lofts that were developed by JH Snyder Co. in 2004. How’s Grocery was the anchor at this time. It was later replaced with 24 Hour Fitness.
The property is situated across the street from the Magnolia/Lankershim Red Line Metro Station.
JH Real Estate Partners was represented by Jim Fisher, Mike Smith and Cory Stehr of Lee & Associates. The seller, Redrock Noho Retail LLC, was represented by CBRE’s Curtis Palmer.
Fisher and Smith also recently assisted the buyer with the $481.2 million disposition of a 14-building Southern California multifamily portfolio. The Noho Commons acquisition is part of JH Real Estate’s ongoing portfolio repositioning that has the firm transitioning into retail holdings.