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LOS ANGELES – A private Dallas investor has purchased the Shops @ The Mercury in Los Angeles for $15.7 million. The retail and commercial center is located at 3800 Wilshire Blvd. in Koreatown. The center was originally known as the Getty Oil Building. The space was renovated in 2007 to include 23,328 square feet of retail and commercial space beneath 238 luxury condos.
The Shops was 89 percent occupied at the time of closing. Notable tenants include Coffee Bean & Tea Leaf, Jamba Juice, T-Mobile, Wells Fargo Bank and United Dental Group. The transaction was executed by Eric P. Wohl of Hanley Investment Group and Carlos J. Lopez of Hanley Investment (HI) Urban Retail Advisors.