Asana adds Balcony on BeverwilDecember 3, 2018
The Balcony on Beverwil, a grocery-anchored center on the Westside, sold for $50.3 million, Jones Lang LaSalle Inc. announced Dec. 3.
The 71,184-square-foot center is fully leased. Ralphs occupies the ground floor. CVS, One West Bank and six other tenants are on the second level.
Retail real-estate firm Asana Partners purchased the property from O’Hearn/Hillcrest Properties, according to CoStar Group Inc. Asana Partners declined to comment about plans for the shopping center.
JLL Executive Vice President Geoff Tranchina handled the off-market sale.
“This property’s strong credit tenant base and position in a highly sought-after trade area with limited competition created a very attractive investment opportunity for Asana Partners,” Tranchina said in a statement.
The Balcony on Beverwil, which was built in 1996, is on the corner of Pico Boulevard and Beverwil Drive.