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Wednesday, September 19, 2012

NYC Company Buys Center


The Malibu Sands shopping center located at 22333 Pacific Coast Highway was recently sold, according to several sources.
Dan Bercu, who heads an investor team that previously owned the center, confirmed the building, which  currently houses Thai Dishes and Uncle John’s Pizza was recently sold to the New York-based  LeFrak Organization.
Founded in 1901, LeFrak describes itself as maintaining one of the most extensive real estate portfolios in the United States.
The website goes on to state the organization, along with its affiliates, has built most of its portfolio.
The current property management company is Kennedy Phillips, according to a spokesperson for that company.
The Sands, originally built as a motel in 1955, has had a succession of tenants in recent years, including the China Den restaurant, Tops Gallery, a tattoo parlor, a marijuana dispensary, several beauty salons, yoga  and martial arts studios, and a variety of offices.

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