Maxxam Enterprises has completed the sale of three properties.
Two of the assets were part of the firm’s Southern California portfolio, while the third was situated in Hawaii. The recent dispositions include:
- L’Opera Building, 115 Pine Ave, Long Beach, CA
- Originally built in 1906, the 66,000 square feet multi-tenant office/retail building, known for its iconic bell and clock tower, is home to the landmark L’Opera restaurant and garnered strong interest from local and national buyer pools. Jeffery Cole and Ed Hernandez of Cushman & Wakefield assisted with the sale.
- Maui Lu Resort, 575 Kihei Road, Kihei, Maui, HW
- 28 acres of fully entitled ocean front land in Maui for a 388-unit villa-style
resort. The buyer will break ground in 2015 with the project slated to open in 2017. The development will be a Hilton Grand Vacations Timeshare.
- Arlington Plaza, 6008-6390 Van Buren Blvd. at Arlington Ave., Riverside, CA
- 126,000 square feet shopping center with 89% occupancy is a high-traffic location with easy access to the 91, 15, and 60 freeways. Anchor tenants included, 99 Cent Only Store and Starbucks.
These sales will support Maxxam’s portfolio expansions in 2015. The company aggressively seeks value-add and core investment opportunities in retail, office, industrial, and multifamily properties throughout Southern California.