Asana Partners



Asana adds Balcony on Beverwil

December 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.

SOURCE: Los Angeles Business Journal, Hannah Madans