Hanley Investment Group and Coastal Commercial Inc. announced the sale of a newly renovated historic retail building on 2nd Street in Belmont Shore, Long Beach, for $9.9M. Representing the seller, the brokers facilitated a transaction that drew interest from local investors seeking retail assets in vibrant coastal submarkets. The property’s prime location, historical character, and strong tenant base contributed to its appeal. This sale illustrates that well-positioned retail properties, particularly those with community identity and redevelopment upside, continue to command solid pricing even as broader CRE markets navigate uncertainty. See full article here.
