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8000 Sunset Shopping Center Sold for $99 Million

Weingarten Realty Investors purchases the shopping center that is home to Trader Joe's, Crunch Fitness and the soon-to-open Sundance Cinemas.

The 8000 Sunset shopping center has been sold.

Weingarten Realty Investors, a Houston-based owner, manager and developer of shopping centers, announced that it has completed acquisition of the 22-year-old shopping center for $99 million.

The property is currently 94% leased and is anchored by Trader Joe's grocery store, along with CB2 ("Crate & Barrel"), Crunch Fitness, Burke Williams day spa and the soon-to-open Sundance Cinema (formerly the Laemmle Sunset 5 cinema)

"8000 Sunset is the quality shopping center that we are focused on in our recycling initiative. The center's retailers, Trader Joe's, Pei Wei and Starbucks, are all existing relationships and combined with the superior demographics including the extreme density and high household incomes as well as strong barriers to entry represents the quality we are pursuing in our acquisition program today," said Drew Alexander, President and Chief Executive Officer of Weingarten Realty in a press statement.

Located on the southeast corner of Sunset Boulevard at Crescent Heights Boulevard, the intersection has 140,000 vehicles passing the site daily according to the press statement. There are 240,000 people living within a three-mile radius of the intersection with an average household income of $104,000 the statement says.

The famed Schwab’s Drug Store and Googies coffeeshop once sat on that site.

joninla July 04, 2012 at 09:18 AM
Built 22 years ago - makes me feel really old.
joninla July 04, 2012 at 09:38 AM
..... and as a long time resident .... You should know! :)
Shaune Steele July 10, 2012 at 03:37 AM
No matter what anyone says, the parking IS a nightmare and the whole center is unbelievably poorly designed. It looks like a big 1980s hulk. It was ugly from the get go. PS: LOL on the "Studs" comment!!
garby francis leon September 26, 2012 at 10:04 PM
Ugly indeed, with poor design everywhere - elevators are impossible, stairwell dumps you on the street, and aesthetically the place needs a teardown. There's also been a steady but intense decline in the businesses represented - the Virgin Megastore was the best record store in Los Angeles with a live DJ and a hundred thousand recordings, many imported, Wolfgang Puck's was perhaps the best daytime restaurant in the area, and the Sam Ash music store always beckoned ... Now? Cheesy overpriced 'modern' furniture, yesterday's trendy gym showing signs of age, a closed indie multiplex promises to reopen six months ago and the town's most inconvenient Trader Joe. Not surprised the place has been sold - the trend has been a downward spiral for a long time now ... still, we go, as the Vegan burgers are the best around ...
me September 27, 2012 at 05:01 AM
agree with most of what u have to say, but sundance cinemas are open!

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