Done Deals: Colliers International Completes 34,320-SF Mixed Use Building Sale Totaling $3.935 Million in Los Angeles

Thursday, September 8, 2011

Colliers International Completes 34,320-SF Mixed Use Building Sale Totaling $3.935 Million in Los Angeles

LOS ANGELES, CA – Colliers International, the second largest global real estate services organization, has completed the sale of a 34,320-square-feet mixed use property located at 312 E 1st Street (top left photo) Los Angeles, Calif. The transaction is valued at $3.935 Million.

Built in 1991, this property is a five-story office and retail building with 5,759 square feet of land. It boasts a prominent location on a key corner lot at the intersection of two major streets in Little Tokyo and between 1st and San Pedro.

Kathleen A. Silver (middle right photo), CCIM, Senior Vice President, and Kay Thorpe (lower left photo), Associate, both based in Colliers International’s West Los Angeles office represented the Seller, Little Tokyo LLC, a private investor. The buyer, E-Tokyo Gateway LLC, is also a private investor.

“The property had multiple challenges to overcome including a lack of building parking and a must assume loan requiring a very strong investor needed as the Buyer,” said Silver.

“With multiple offers received on the asset, the sale is evidence that there is still a strong demand for well located real estate in Southern California.”