{"id":1004762968,"date":"2025-06-27T04:11:31","date_gmt":"2025-06-27T12:11:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004762968"},"modified":"2025-06-27T04:11:33","modified_gmt":"2025-06-27T12:11:33","slug":"hollywood-walk-of-fame-retail-sells-for-69m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hollywood-walk-of-fame-retail-sells-for-69m\/","title":{"rendered":"Hollywood Walk of Fame Retail Sells for $69M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004762971\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-peterson-building-in-los-angeles-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Peterson Building in Los Angeles\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg\" alt=\"Exterior shot of the 64,000-square-foot Peterson Building retail center, on the Hollywood Walk of Fame.\" class=\"wp-image-1004762971\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">The 64,000-square-foot Petersen Building opened in 1983. <em>Image courtesy of Yardi research data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Tinder co-founder Justin Mateen and brother Tyler Mateen have acquired The Hollywood Collection, a 180,000-square-foot retail portfolio on Los Angeles&#8217; Hollywood Walk of Fame, for $69 million. The transaction included the 118,00-square-foot Hollywood Galaxy building at 7021 Hollywood Blvd. and the 64,000-square-foot Petersen Building at 7001 Hollywood Blvd.<\/p>\n\n\n\n<p>Both properties were previously under Federal Realty Investment Trust\u2019s ownership, according to Yardi Research data. The company had acquired them in 1999 for a combined $24.9 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-two-high-profile-retail-assets\">Two high-profile retail assets<\/h2>\n\n\n\n<p>Completed in 1990, the Target-anchored Hollywood Galaxy is a three-story property with a tenant roster that includes CVS Pharmacy and LA Fitness. The retail center was 80 percent leased at the time of the sale, <em>L.A. Times<\/em> reports. Adjacent to Hollywood Galaxy is The Petersen Building, which began serving its customers in 1983. Its tenant roster features Marshalls and La La Land, the same source shows.<\/p>\n\n\n\n<p>The retail properties occupy a full city block on the Hollywood Walk of Fame, which attracts 10 million visitors annually. The Hollywood\/Highland subway station on B Line is within walking distance, as are Madame Tussaud&#8217;s Museum, TCL Chinese Theatre and Dolby Theatre.<\/p>\n\n\n\n<p>Private investors are increasingly <a href=\"https:\/\/www.commercialsearch.com\/news\/retails-resilience-draws-private-capital-back\/\">returning to the retail real estate sector<\/a>, drawn by its income stability and long-term growth potential. Market conditions such as easing inflation, stabilizing interest rates and reduced competition are creating a favorable environment for acquisitions. And while institutional buyers are pulling back, high-net-worth individuals and smaller private groups are stepping in to fill the gap.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Realty Investment Trust previously owned the two assets.<\/p>\n","protected":false},"author":3619,"featured_media":1004762971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1594,21742,21749,15],"tags":[33957],"class_list":["post-1004762968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-los-angeles","category-latest","category-retail","category-west","tag-federal-realty-investment-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hollywood Walk of Fame Retail Sells for $69M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Justin Mateen and Tyler Mateen bought the 180,000-square-foot Hollywood Collection on Los Angeles&#039; Hollywood Walk of Fame for $69 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hollywood-walk-of-fame-retail-sells-for-69m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hollywood Walk of Fame Retail Sells for $69M\" \/>\n<meta property=\"og:description\" content=\"Justin Mateen and Tyler Mateen bought the 180,000-square-foot Hollywood Collection on Los Angeles&#039; Hollywood Walk of Fame for $69 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hollywood-walk-of-fame-retail-sells-for-69m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-27T12:11:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-27T12:11:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Peterson-Building-in-Los-Angeles-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hollywood-walk-of-fame-retail-sells-for-69m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hollywood-walk-of-fame-retail-sells-for-69m\/\",\"name\":\"Hollywood Walk of Fame Retail Sells for $69M - 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