One Pacific – Hotel Development – Hermosa Beach

First partially acquired in 2013, this project sits at the main corner of the Strand and Hermosa Pier. In 2016, the balance of the site was acquired for a total of 42,000 square feet. Crescent Capital Partners has been working with the the city of Hermosa to entitle a 108-key hotel development. The project will have four food and beverage outlets and rooftop deck amenities. Currently, it consists of a mix of multifamily, retail, and restaurant outlets. The space is 100% leased and enjoys high waterfront rents while awaiting entitlement.