Saturday, May 2, 2015

Charles Dunn Company Completes $3.85 Million Sale of a 12,453-Square-Foot Office Building in Los Angeles, CA


3211 Cahuenga Boulevard West, Los Angeles, CA
LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $3.85 million sale of a two-story, 12,453-square-foot office building located at 3211 Cahuenga Blvd. West in Los Angeles. The property is fully occupied by several tenants.

Roger L. Beck, SIOR of Charles Dunn Company represented the buyer, Los Angeles-based 3211 Cahuenga LLC and Stacy Vierheilig-Fraser of Charles Dunn Company represented the seller, a private investor from Los Angeles.

“The buyer had been looking for a well-located office investment for over a year,” commented Beck. “Over that time period office pricing has risen more than $50 per-square-foot largely due to the lack of inventory and buyer demand. We were able to act quickly by presenting a strong, all-cash offer and quick closing prior to the property hitting the market.”

Roger L. Beck
Beck noted that the property is extremely well-located across the freeway from Universal Studios and close to both Hollywood and the San Fernando Valley markets. 

The buyer is planning on making significant improvements to the asset to add value and garner market rate rents.

“The demand for small office property in Los Angeles is extremely high as investors are seeking tangible assets as way to diversify their investment holdings,” said Vierheilig-Fraser. 

“It is very seldom that a quality, ideally located property becomes available and because of this, many transactions are closed off-market.”

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

949.278.6224

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