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Malibu Village recently sold for reported $120 million

Commercial real estate can present exciting opportunities but should always be carefully considered. One of nearby Malibu's biggest shopping centers, Malibu Village, was recently sold. A real estate investment firm from out-of-state, with a presence elsewhere in California, recently purchased the 50,000 square foot outdoor mall from southern California investors. Although the sale price and other terms of the deal were not released, those familiar with the commercial property market valued the deal at $120 million. The COO for the purchasing company noted it is focused on growth and "looking for more opportunities for long-term investment in Southern California." The purchasing company plans to try to attract more local shops and restaurants as tenants but does not plan any other changes. The 50,000 square foot property is ninety percent leased.

When entering into a commercial real estate growth opportunity, it is important to understand the process of purchasing commercial real estate. The process requires a thorough understanding of everything from the real estate market to contract negotiations and drafting a purchase agreement. Depending on the nature of the commercial real estate transaction, other important considerations such as zoning laws, real estate land use and construction issues may also need to be resolved.

A commercial real estate transaction can also involve a variety of parties including owners, developers, property managers and property-management companies. Depending on the property and the nature of the transaction, management agreements for the administration of the property may also be required. Because so many important considerations, and different parties, can be involved in a commercial real estate transaction, disputes can sometimes arise. The goal of carefully understanding and executing the transaction may help to avoid disputes during the transaction and down the road.

The number of important considerations involved in a commercial real estate transaction may seem overwhelming and, at times, disputes cannot be avoided. Proper and knowledgeable guidance throughout the process, even when a dispute arises, may help to ensure a successful transaction and successful long-term future for the commercial real estate investment.

Source: Los Angeles Times, "Malibu Village shopping center is sold," Roger Vincent, May 28, 2014

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