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Recent Los Angeles Area Commercial Building Sales

Multi Use Building Courtesy of CBRE

Recent Los Angeles Commercial real-estate sales include mixed-use, multifamily, industrial and other commercial properties. Feature image provided by CBRE.

These commercial buildings are prime candidates for commercial solar and energy storage systems. Adding commercial grade renewable energy to any building lowers electricity costs and raises building value. Learn more today by contacting a Revel Energy professional.

Original Article: The LA Deal Sheet by Joseph Pimentel

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“Province Group has purchased a 12.83-acre mixed-use development site in Simi Valley from LNR Partners for $18.5M. The 271K SF property at 3039-3041 Cochran St. is a former Farmers Insurance headquarters. The property will be converted into a multifamily development with street-level retail. CBRE’s Gary Stache, Melinda Russell, Mark Shaffer and Matthew Heyn represented the buyer and seller.

A private investor has purchased a 13,760 SF retail building in Lancaster from The Niki Group and Wood Investment Cos. for $6M. The property consists of two multi-tenant buildings at 1721 East Avenue J and at 44421 20th St. East. The buildings are 100% leased to several retailers, including AT&T, Papa John’s, Panda Express and GameStop. Hanley Investment Group Real Estate Advisors’ Eric Wohl, Ed Hanley and Andrew Cunningham represented the seller. Realtex’s James Chin represented the buyer.

Urban Stearns, a mixed-use and multifamily developer, has acquired a 30K SF development site in San Pedro from Harbor Shoreline for $3.9M. The site at 111 North Harbor Blvd. is designated as an opportunity zone and qualifies for the city of Los Angeles’ Transit Oriented Communities Affordable Housing program. CBRE’s Laurie Lustig-Bower and Kadie Presley Wilson represented the buyer and seller.

Aho LLC has purchased a 16,800 SF office building in West Los Angeles from Optimus Properties for $11.9M. The property at 864 South Robertson Blvd. was renovated and upgraded last year. Newmark Knight Frank’s Steven Salas, Daniel Chiprut and Britney Kagawa represented the seller.

 In a 1031 exchange, an undisclosed buyer described as an Asian Pacific-based company has purchased a 290K SF retail shopping center in Moreno Valley from Brixton Capital for $51M. The Towngate Center at 12625 Frederick St. is 95% leased to tenants including TJ Maxx/Home Goods, BevMo, Ross Dress for Less, Dollar Tree, ULTA, Regency Theatres, Planet Fitness, Chipotle and Wells Fargo Bank. CBRE’s Phillip D. Voorhees and the company’s National Retail Partners-West represented the seller. 

SBH Real Estate Group has sold a 14K SF retail property in Burbank to a private investor for $7.8M. Harbor Freight currently occupies the property at 822 South San Fernando Blvd. JLL’s Adam Friedlander and Kien Tsoi represented SBH. CBRE’s Jeff Gerlach represented the buyer.”

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