Kennedy Wilson Brokerage Negotiates A $5 Million Sale for DSC-America, Inc. in Long Beach

With Long-Term Restaurant Leases in Place, Property Sold in Under 60 Days

Long Beach, Calif. – December 20, 2022 – Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, Ltd., recently negotiated the $5,075,000 sale of a 4,128-square-foot retail building at 5242-5246 E. 2nd St., Long Beach, CA 90803. Located in the heart of Belmont Shore’s main shopping and dining corridor, the property has two long-term leases in place with Rakkan Ramen and Dave’s Hot Chicken. Ed Sachse, President and Jordan Rubinstein, Vice President, represented the seller, DSC-America, Inc. The buyer, Shore Retail Partners, LLC, is a Long-Beach-based investor with multiple commercial properties in Long Beach and Orange County.

“With its strong position in the market, this property is a great example of how well-located triple net retail assets remain desirable investments despite rising interest rates,” said Sachse. “Working in partnership with our long-term client and a sophisticated, all-cash local buyer who understands the Belmont Shore submarket, we were able to close within 60 days.”

Belmont Shore’s 2nd Street corridor has proven a desirable location for commercial tenants seeking high foot traffic, strong reflective retail, and a relatively affluent consumer base. Located at the hard, signalized corner of 2nd Street and Covina Avenue, the property received multiple bids for purchase.