J
H Real Estate Partners, a Newport Beach-based firm, has acquired Village Walk Center in Pico Rivera for $37.5 million. The 133,000-square-foot mall is anchored by a 14-screen Cinepolis cinema and features tenants like Harbor Freight and CVS pharmacy. Despite a cooling trend in Los Angeles' retail investment sales market, the sale highlights JH Real Estate's focus on West Coast retail investments.

    The property, located at 8500-8580 Whittier Boulevard and 5005 Paramount Boulevard, was previously owned by Arizona firm Vestar. The complex was 100 percent leased when it hit the market in November 2023, with tenants including Raising Cane's, Chop Teriyaki, and Don Chente Bar & Grill.

    JH Real Estate Partners is a privately-owned company that has secured entitlements for over 1,500 multifamily units and 200,000 square feet of retail space. Its portfolio includes notable properties like the Redlands Town Center and Orchard Walk East. The sale marks a significant investment in the region's retail market, which saw a decline in total investment sales in the fourth quarter to $345.3 million.

    The acquisition defies the cooling trend in Los Angeles' retail investment sales market, where leasing activity has shown growth despite declining sales figures. JH Real Estate Partners and Vestar did not comment on the sale.