In the first quarter of 2022, Los Angeles’ retail market finished strong, with recent transactions continuing to highlight positive growth in the sector. In one such transaction, Modiv, a Newport Beach-based investment trust acquired a 72,000 square-foot KIA dealership in Carson in a sale-leaseback transaction. According to a first quarter Los Angeles retail market report from Kidder Mathews, the property was purchased for $69.27 million, or about $962 per square foot.
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