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Federal Realty Trust sells Hermosa Beach, Calif., office/retail building

Federal Realty Investment Trust sold the 23,172-square-foot The Bijou Building in downtown Hermosa Beach, Calif., in an $18 million transaction.

The three-story mixed-use office/retail property at 1221 Hermosa Ave. was sold to an entity called 1221 Hermosa Ave LLC.

Newmark Knight Frank brokered the transaction.