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COMMERCIAL REAL ESTATE

Most of Manhattan Village Mall Is Sold

October 03, 2000|BRAD BERTON

Cincinnati-based Madison Marquette bought most of the 551,847-square-foot Manhattan Village Shopping Center at Rosecrans Avenue and Sepulveda Boulevard in Manhattan Beach from a group headed by San Francisco's AMB Institutional Realty Advisors and including Santa Monica's Macerich Co.

Madison Marquette's Steve Plenge wouldn't disclose what his company paid for the property, other than to say the price was less than $90 million. Secured Capital Corp. represented the seller.

The purchase covered 424,112 square feet of the center's shops, and did not include the Macy's department store or the Manhattan Hacienda office building. Other tenants include a Macy's Men's/Home Store, Ralphs, Fry's Electronics, Sav-on Drugs and Pacific Theaters.

For the Record
Los Angeles Times Wednesday October 4, 2000 Home Edition Business Part C Page 3 Financial Desk 2 inches; 42 words Type of Material: Correction
Manhattan Village Shopping Center--Brokers who represented AMB Institutional Realty Advisors and Macerich Co. in the companies' recent sale of Manhattan Village Shopping Center in Manhattan Beach were misidentified in Tuesday's Business section. Cushman & Wakefield represented the sellers.

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