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| John Anthony |
LOS ANGELES, CA, Aug. 11, 2014 – Charles Dunn Company, one
of the largest full-service regional real estate firms in the western United
States, has completed the $19 million sale of a 12-story, 186,000-square-foot
creative office building located at 155 W. Washington Blvd. in Downtown
Los Angeles.
John Anthony and Christopher Steck of Charles
Dunn Company represented the seller, San Mateo, Calif.-based West Washington
Properties, LLC.
The buyer was a private investor from Los Angeles and was
represented by Emil Golub of Fortune Investments. The multi-tenant creative
office building was over 97 percent leased at the time of the sale.
“With the current demand for creative office space within
Los Angeles, and the beginning resurgence of this pocket of Downtown, we
marketed the property as a strong value-add opportunity for an investor that
was looking to capitalize on the short-term existing leases at below market
rents,” said Anthony, senior managing director with Charles Dunn Company.
 |
| Christopher Steck |
“We
identified a buyer who saw the long-term opportunity to reposition the asset
and at an ideal time to invest in this key market.”
Built in 1927, the building was renovated in 2010 and
includes 70 covered parking spaces.
It is well located and offers high
visibility from the 110 and 10 freeways and is near an abundant and growing
entertainment, dining, retail and nightlife amenity base.
Additionally, the
property is just a few blocks from Grand Station stop on the Metro Blue Line,
and 23rd Street Station on the Metro Expo Line.
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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