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Photo credit: Buchanan Street Partners
A new Gelson's Supermarket will soon be built at the corner of Sunset Boulevard and Gardner Street, thanks to a $12.9M loan Cadence Capital Investments secured from Buchanan Street Partners to buy five buildings on Sunset Boulevard.
Buchanan Street Partners VP Mark Reese tells Bisnow it's hard to find the space for a 38k SF floor plate to accommodate a store such as Gelson's in densely populated areas like Hollywood.
Mark tells us the new location pre-leased by Gelson's will close the gap for customers who live between the existing stores in Hollywood and West Hollywood.
Cadence paid exactly $12.95M for the property, according to The Real Deal. The new Gelson's is scheduled to open in Q1 2018. [TRD]
