Culminates strategic acquisition, renovation and lease-up strategy for generational investment

Hermosa Beach, Calif. – (February 26, 2025) — Privately-owned real estate investment, development and finance company Bolour Associates Inc. (BOLOUR) has completed the $33.5 million sale of a mixed-use beachfront portfolio totaling nearly one acre of land and 415 feet of beach frontage along The Strand and Pier Avenue in Hermosa Beach, California.

The disposition marks the culmination of a long-term strategic assemblage, renovation and lease-up by BOLOUR for 18,551 square feet of retail on the Hermosa Beach Strand and Pier, and 3,807 square feet in nine adjacent short-term rental units.

BOLOUR purchased the retail asset, located at 11 – 29 Pier Ave. and 1250 – 1272 The Strand, in May 2013. Through lease-up, the properties are 88% occupied by beach-centric tenants including Hermosa Cyclery, Oakberry, Hermosa Beach Trading Co., Waves, Playa Hermosa Fish & Oyster, and Heavenly Couture.

BOLOUR purchased the adjacent rental property, located at 20 – 32 13th St., in September 2017, completing a renovation and rebrand in 2023 that positioned the asset to maximize its competitive advantage within a rare short-term rental zoning district.

“This is a standout property situated on one of Southern California’s most sought-after beachfront corridors and offering multiple avenues for value enhancement, including renovation and redevelopment, and market-rate adjustments,” said BOLOUR CEO Mark Bolour. “It underscores BOLOUR’s interest in supporting the advancement of cornerstone infill parcels across the U.S., with a focus on optimizing long-term returns.”

JLL’s Tim Kuruzar, Bryan Ley, Brendan McArthur and Tess Berghoff served as investment advisors in the Strand and Pier transaction. Jeff Sause and Chad Morgan of JLL served as debt advisors.

“The sale of the Hermosa Strand and Pier represents a generational trade for the beachside community. Oceanfront commercial assets are rare, and when they become available, especially with the embedded traffic in the trade area, it’s bound to be news,” Kuruzar. “We are honored to have stewarded the transition of ownership from our partners at Bolour Associates to a new ownership group who plans to own and cultivate this special property on a permanent basis.”

Located on two miles of coastline between Redondo Beach and Manhattan Beach in Southern California, the Hermosa Beach Strand and Pier attracts over three million tourists per year. The area benefits from an affluent local demographic with average household incomes exceeding $200,000 per year. It is part of the larger South Bay market, home to employers Boeing and Space X, and SoFi Stadium.

About BOLOUR

BOLOUR is an integrated real estate finance, investment and development firm that invests in value-add assets in emerging and transit-oriented neighborhoods. Property types include urban infill land, retail, industrial, multifamily and mixed-use. As a lender, BOLOUR provides borrowers with individually designed debt solutions that often feature creative loan structures and quick closings. The company is currently active in 17 states and the District of Columbia. More information is available at BolourAssociates.com.