LONG BEACH, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, and Coastal Commercial Inc., a commercial real estate brokerage serving property owners throughout Southern California’s coastal communities, announced today that the two firms arranged the $9.9 million pre-sale of a newly renovated historic building on 2nd Street in Belmont Shore, Long Beach. The two-tenant, 8,991-square-foot property is leased by South of Nick's Mexican Kitchen + Bar and KAL Capital Markets, an investment banking firm.
Hanley Investment Group's Executive Vice Presidents Bill Asher and Kevin Fryman, and Executive Vice President and Partner Jeff Lefko, in association with Coastal Commercial President Nathan Holthouser, represented the seller, a partnership led by Aaron Tofani of ATE Real Estate, a private developer based in Long Beach, and the buyer, a private investor from Los Angeles County.
"We secured an all-cash 1031 exchange buyer from Palos Verdes who had recently sold a large land parcel in the South Bay," said Holthouser. "The buyer was seeking a pride-of-ownership location in Southern California, and we were able to facilitate a pre-sale transaction that closed escrow prior to both tenants opening for business and paying rent in order to satisfy the buyer's exchange requirement."
"This property represents a rare retail sale along 2nd Street in desirable Belmont Shore," Asher said. "The building, originally constructed in 1929 in the Spanish Colonial Revival style, was restored and redeveloped while retaining its iconic historic architecture. The addition of South of Nick's Mexican Kitchen + Bar brings a dynamic new dining destination to the corridor, while KAL Capital provides a stable professional presence that complements the mix of uses along 2nd Street."
Holthouser added, "This building is one of the few remaining commercial properties on 2nd Street that retains its original architectural appearance, which is a testament to Aaron Tofani's vision and commitment. The Long Beach Cultural Heritage hearing unanimously approved the adaptive reuse for restaurant use. South of Nick's concept complements the historic design, creating a seamless fit between tenant and architecture."
South of Nick's is part of Nickco Hospitality Group, a privately held company focused on high-end casual dining experiences with a loyal regional following. Founded in 2008 in Laguna Beach, Nick's operates 12 locations across Orange, Los Angeles and San Diego Counties under two concepts: eight Nick's restaurants and four South of Nick's. This is Nickco Hospitality Group's second location on 2nd Street, joining Nick's on 2nd, which has operated successfully since 2012.
KAL Capital Markets, founded in 2016, is a Long Beach-based boutique aerospace and defense investment bank that provides advisory services to business owners and private equity firms. The firm specializes in mergers and acquisitions and capital raise advisory across sectors including aerostructures, aftermarket services and unmanned aircraft.
The building sits on 0.30 acres at 5354 East 2nd Street at the signalized intersection of 2nd Street and Santa Ana Avenue. South of Nick's restaurant occupies 5,707 square feet on the ground floor, while KAL Capital occupies 3,284 square feet on the second floor. Both tenants recently executed new triple-net leases. The property benefits from 21 dedicated parking spaces on site, with additional public parking available nearby. Parking is a rare amenity along 2nd Street, where most properties lack dedicated spaces.
Belmont Shore's 2nd Street is recognized as one of Southern California's most walkable retail and dining corridors, with a Walk Score of 91. The surrounding area includes more than 360,000 residents within a five-mile radius and an average household income of $166,000 within one mile. The corridor serves as the main thoroughfare connecting the Pacific Coast Highway with Downtown Long Beach, which is home to the Convention Center, Performing Arts Center, Pine Avenue, the Arts District, Shoreline Village, the Aquarium of the Pacific, the Queen Mary, and the Port of Long Beach. Three of the city's premier shopping centers — The Marketplace, Marina Pacifica Mall and the newest development 2nd & PCH — are located adjacent to the neighborhood.
Located 20 miles south of Downtown Los Angeles, Long Beach is California's seventh-largest city and one of the state's most dynamic coastal markets, supported by a diverse economy anchored by health care, education, manufacturing and logistics. The city is home to the Port of Long Beach, the nation's second-busiest seaport, and Long Beach Airport, which together generate billions in annual economic impact and tens of thousands of jobs. With major developments underway downtown, a thriving tourism industry and leading institutions such as California State University, Long Beach, the city continues to attract investment and reinforce its position as a premier destination for business, education and lifestyle.
"Belmont Shore's 2nd Street is one of Southern California's premier retail and dining destinations, and this transaction highlights the rare opportunity to acquire a newly renovated historic property in a highly walkable, affluent community," Fryman said. "With Long Beach's expanding economy, robust tourism and ongoing development pipeline, investor demand for well-located coastal retail assets remains strong. We were pleased to work alongside Coastal Commercial and ATE Real Estate to bring this sale to completion."
About ATE Real Estate
ATE Real Estate delivers transformative projects across retail, hospitality, automotive and mixed-use sectors. Each development reflects the company's commitment to quality, strategic planning and positive community impact. By reimagining spaces as vibrant, community-centered destinations, ATE Real Estate creates lasting value and elevates everyday experiences. For more information, visit www.aterealestate.com.
About Coastal Commercial
Coastal Commercial Inc. is a commercial real estate brokerage that specializes in servicing property owners within the Southern California coastal communities ranging from San Diego to Santa Barbara. The firm provides investment property sales, leasing, property management, and advisory services. For more information, visit www.coastalcommercial.com.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12.5 billion transaction track record that specializes in the sale of retail properties nationwide. The company's expertise, proven track record, and dedication to putting clients' needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through property‑specific marketing strategies, cutting-edge technology, and local market knowledge. Hanley Investment Group's relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service and more than 20 years of experience, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestment.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Bill Asher, Executive Vice President
Email:Send Email
Phone: 949.585.7684
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
