Black Lion Investment Group sold the Bell Plaza shopping center to an undisclosed buyer for a sale price of $7,000,000. The sale was closed on May 20, 2021. The strategic sale of this property is part of a larger plan that encompasses a string of recent successful acquisitions as dispositions by Black Lion Investment Group.
President of Black Lion Investment Group, Robert Rivani had this to say about the sale, “as a company we are of course sad to let go of this tremendous property, but at the same time we are also thrilled to use this sale to fund a series of investments to help our company continue to expand and carry out our mission.”
The 18,500 sq ft property, which is located between 15737-15751 Bellflower Blvd in Bellflower, CA is a darling of a commercial shopping center. Just like its flowery name implies, Black Lion Investment Group was able to create a charming area for local shoppers to enjoy in the surrounding Bellflower community.
The buyer (who wished to remain anonymous at the time of purchase) will be in a prime position to have a successful commercial shopping center. When Black Lion Investment Group purchased the property, they completed modern capital improvements which gave the shopping center a much-needed aesthetic facelift. The renovations increased occupancy and extended existing tenants to longer-term leases. These improvements made by BLIG will allow the buyer to use these improvements to their strategic advantage in the competitive California market.
The Los-Angeles based firm is selling Bell Plaza in order to allocate more funding that will be utilized in continuing to carry out their creative vision for expansion in 2021.
David & Chris Maling from Avison Young brokered the sale of this property.
Black Lion Investment Group continues its hot streak of buying and selling at a rapid pace in order to carry out their 2021 plan of expansion. This aggressive expansion is a strategic investment plan to acquire top-performing commercial real estate properties in two key states which have been flourishing in the wake of the global pandemic: Florida and Arizona. This transaction is occurring just days after the BLIG acquisition of Oracle Wetmore for $38 million. Their recent $12,100,000 acquisition of the Amara at Paraiso property from the Related Group builds upon Black Lion’s impressive portfolio of properties in Florida, such as the recently renovated Crystal Cove Commons and Brickell Bay Boardwalk.