Blatteis & Schnur’s principal business specializes in the acquisition and development of 100% High Street properties in the top 20 urban retail markets in the United States.  The firm has consummated over 45 transactions involving premiere properties over the past 15 years in such diverse markets as the Arts District DTLA, Beverly Hills, Malibu, Union Square in San Francisco, Michigan Avenue and Lincoln Park in Chicago, Newbury Street in Boston, Walnut Street in Center City Philadelphia and Maui, Hawaii.

Our professional expertise is best represented in the recent sale of 1415 Third Street Promenade in Santa Monica.  Purchased in conjunction with capital partner ASB in late 2010 for $26M, the 35,000 square foot building was vacant at the time of acquisition, and had housed a 3-level Border’s Book Store.  Immediately upon acquisition, an aggressive marketing campaign commenced and by Spring 2011, the entire building was leased to Apple for a flagship Los Angeles location, replacing an antiquated unit in an inferior block of the Promenade.  Apple executed a 15 year lease at pro forma rent with demolishing the structure the only tenant construction requirement.  The new building, projected to cost approximately $40M, would be Landlord owned.  Apple opened its new iconic glass-cube edifice in December 2012.  The building was sold for $58M in July 2012 while under construction within 22 months of acquisition, representing a record 3.4% cap rate.

Blatteis & Schnur is a fully-integrated retail investment firm that focuses on acquiring, managing and strategically repositioning the highest quality retail assets nationally. The current investment portfolio includes a collection of high-street assets in the nation’s leading and emerging urban markets. Assets include a range of core, core-plus, and opportunistic investments.

Blatteis & Schnur invests in and develops properties for its own account and in joint venture partnerships with institutional and high net worth investors, focusing on providing investors with solid risk-adjusted returns.

Blatteis & Schnur remains focused in its endeavor to acquire the highest quality trophy retail assets nationally.