Century City Shopping Center to Be Sold

The owner of Century City Shopping Center, one of Southern California’s highest-grossing malls, has agreed to sell the 140-store complex, according to sources familiar with the deal. RREEF, a San Francisco-based real estate investment and advisory firm, had the 18.7-acre complex up for sale for a relatively short time before finding the buyer, which has not been identified. Jerry Asher, who represents a marketing team working on behalf of RREEF, declined to comment. Asher, director of investment properties for CB Richard Ellis Inc., was the broker involved in selling the shopping center to RREEF in the early 1980s.