Optimus Properties, LLC has recently acquired a retail strip center located at 5214-5232 W. Sunset Blvd in Hollywood. The property spans over 19,904 square feet and sits on a large lot of 42,076 square feet. This purchase was made through a court-ordered sale.
The center is anchored by a box retail space that was previously the top location for 99 Cents Only stores in terms of number of visits. It is also home to various service-oriented tenants, restaurants and soft-goods retailers with rents currently below market value.
In order to improve the property’s appeal and attract high-quality tenants, Optimus plans to make cosmetic upgrades such as new paint, storefronts and tenant signage programs.
According to K.Joseph Shabani , principal at Optimus Properties: “This acquisition marks our third purchase on Sunset Boulevard within two years.” He sees this as an excellent opportunity to expand their growing portfolio with a prime location that serves the surrounding neighborhood well due its great mix of tenants.
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