Non-profit acquires 6,743 SF office building in Hollywood, CA for $5.37 million

 

Nicole Mihalka

LOS ANGELES, CA –JLL announced Los Angeles Beautification Team, a non-profit dedicated to resource conversation and community improvement, has sold its 6,743-square-foot office building on an 18,000 square foot lot, located at 1741 N. Cherokee Avenue in Hollywood, California for $5,375 million.

 Cal Ross

The buyer was Big Sunday, a non-profit committed to helping others through service projects and giving opportunities.  Big Sunday will use the building for its headquarters.  Move-in is scheduled for April of this year.

 

JLL’s Nicole Mihalka and Cal Ross, along with the Kenny Stevens team at Compass represented Los Angeles Beautification Team.  Even though the price of the property exceeded $5 million, the sale was not subject to the region’s new ULA tax (aka “the mansion tax”) because of the seller’s non-profit status.

Kenny Stevens

“As our service area grew and the demand for our community improvement services increased, we had outgrown our facility in Hollywood,” said Sharyn Romano, CEO, Los Angeles Beautification Team

 

"When we decided to sell, we were thrilled to receive multiple offers and select Big Sunday, another non-profit doing great work in this community. 

 

 “Hollywood is still our home with our administrative and field office hub remaining on Cherokee Avenue, along with an expanded nursery operation located in the San Fernando Valley.”

David Levinson

“Over the past several years we have experienced tremendous growth thanks to our volunteers and generous contributions,” said David Levinson, Founder and Executive Director, Big Sunday.  “This building is the perfect fit for us as we continue our mission of connecting people through helping.”

SOLD: for $5,375 million, this 6,743-SF
 office building on an 18,000 SF lot,
 located at 1741 North Cherokee
Avenue in Hollywood, CA

Built in 2012, 1741 N. Cherokee Avenue was designed by the renowned architects Gruen Associates.  The building boasts up to 18-foot ceiling heights with multiple offices and a large training room. It also features a spacious 7,000-square-foot landscaped outdoor green space.

 

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association

 of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

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