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LUMBER MERCHANT: Los Angeles-based real estate brokerage Blatteis & Schnur has purchased a “significant minority interest” in the Malibu Lumber Yard, according to the firm’s co-chairman Daniel Blatteis, who declined to disclose the purchase price. “We have the potential to increase that over time and that’s our full expectation,” he said. Blatteis & Schnur has taken over the leasing and management responsibilities at the Malibu Lumber Yard. Richard Weintraub and Richard Sperber, who developed the two-year-old 30,000-square-foot shopping center for roughly $25 million and put it on the market last year, are still the majority owners. “I am interested in staying in it for the long haul,” said Weintraub.
The center’s tenants include Alice + Olivia, Tory Burch, Maxfield, Kitson, Intermix and James Perse, which has leased an additional location on the second level for its first restaurant.
The Malibu Lumber Yard isn’t the only retail complex in the tony seaside town to be experiencing activity. Missoni and Super, the new skin care brand from Nicholas Perricone, have opened units at nearby Malibu Village, which will also soon be home to Nike Inc.’s nascent concept called Salvation, which showcases its Hurley, Nike and Converse brands together, and is rumored to be getting a Lanvin store.