CIM Group has acquired the 869,000-square-foot Baldwin Hills Crenshaw Plaza, a regional shopping mall situated on more than 40 acres at 3650 West Martin Luther King Boulevard in the Baldwin Hills/Crenshaw market of Los Angeles. Macy’s and IHOP stores were not included in the sale.
“Baldwin Hills Crenshaw Plaza occupies a pivotal location in a well-established Los Angeles community, centrally-located and adjacent to a soon-to-open Metro light rail station. Two large anchors, Sears and Walmart, closed their doors prior to COVID-19’s shuttering the entire mall, and 300,000 square feet of space in these two large buildings continue to remain vacant. We have the opportunity to bring a fresh perspective to the future of the property viewed through the lens of the current climate and the acceleration of the already declining retail environment,” said Shaul Kuba, principal and co-founder of CIM Group. “Since 1947 this property has been a commercial property, and althou
