Red Mountain Group, Inc. is pleased to announce the acquisition of La Cienega Triangle, an 8.6 acre property located at the highly dense and urbanized, three pronged intersection of La Cienega Blvd, Centinela Avenue, & La Tierja Blvd in Los Angeles, California.
This dynamic trade area is home to more than 826,000 residents in a five-mile radius, employs 321,000 jobs, and sees over 135,000 cars a day. La Cienega Triangle is a dense and rare in-fill core property giving Red Mountain the opportunity to improve, redevelop, operate, and own one of the largest available redevelopment sites in the greater Los Angeles area.
Working with the local community and municipalities, the planned 117,838 square foot urban redevelopment calls for an immediate adaptive reuse plan on the existing 43,138 square feet of street front retail along La Tierja Blvd and will be followed by an additional 42,700 square feet of ground up improvements on the balance of the site. The entire plan will include a daily needs grocer, entertainment uses, soft goods carriers, sit-down food service facilities, and four established drive-thru operators. A 30,000 square foot office building is also located on the site.
La Cienega Triangle was professionally brokered by Bill Bauman of Savills Studley and Luke Palmo of Coldwell Banker Commercial. For Leasing information, please contact Kristin Ambrose at 714-460-1564. For additional property information or to download a leasing flyer, click HERE.
The Red Mountain Group portfolio encompasses 87 shopping centers with nearly 4 million square feet of commercial retail development with a current value of over $850 million dollars with assets in 17 states. Red Mountain Group was founded in 1999 by Mr. Michael H. Mugel. The company is headquartered in Santa Ana, California, with an additional office in Phoenix, Arizona. Red Mountain Group can be found online on LinkedIn, Facebook, Twitter, and at www.RedMountainGroupInc.com