Los Altos Center buildings up for sale for $20 million

 Los Altos Center buildings up for sale for $20 million

Los Altos Center buildings on Britton Drive       photo courtesy of Centennial Advisors

July 14, 2023 8:30 am

UPDATE 10:00 am July 14, 2023: The orginal list price of $22.495 million was dropped to $20 million.

The three Britton Drive office and retail buildings integrated into the Los Altos Market Center have been listed for sale by investment firm Centennial Advisors for $20 million.   The price was dropped from the orginal price of $22.495 million.

The buildings include business, dental and medical suites and numerous other retail services storefronts including IHOP, Kennedy’s Craft Kitchen and The Bagelry.  The Centennial Advisors’ Long Beach office is also located there. 

Over the years, the three buildings have housed numerous iconic Long Beach  establishments including the Fish Tale Restruant. 

The buildings have been owned by the prominent East Long Beach Bloeser family under a few different family business entities.  Currently, Gerald “Jerry” Bloeser owns the properties through DGJ Properties. 

The original Los Altos Market Center (aka South) first stores opened in 1953 and was redeveloped in the early 1990’s.  

While the Market Center, Los Altos North and the Los Altos West strip are considered by many one retail center, each of the separate centers has numerous owners with-in each section. 

Along with retail and other services, the Los Altos Center area is a major Long Beach banking center with five major banking options.  It also has three major grocery options: Lazy Acres, Trader Joe’s, and Target. 

In 2019 the main anchor store then a shuttered Sears was sold and remains closed. That large department store retail space originally opened as a Walkers in 1954. 

The Los Altos Mall was inducted into the Mall of Fame in 2009.

All three sections of the "center" have had  regular closures and openings of dozens of retailers and services reflecting the retail and service trends of the seventy years the center has been open.  

Circa 1990's Los Altos Market Center marquee

Located a mile from CSULB, the original center was part of developer Lloyd Whaley’s East Long Beach planned communities of Los Altos Village and University Park Estates.