Sunday, September 21, 2014

Charles Dunn Co. Completes $3.2 Million Sale of a 9,252-Square-Foot Office Building in Sherman Oaks, CA to Owner-User


Gelena Skya-Wasserman
 LOS ANGELES, CA– Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $3,205,000 sale of a two-story, 9,252-square-foot office building located at 14101 Valleyheart Dr. in Sherman Oaks, Calif.

Roger L. Beck, SIOR and Gelena Skya-Wasserman of Charles Dunn Company represented the seller, Van Nuys, Calif.-based CG Investments, LLC.

 Bogun Realty represented the buyer, a private investor from Sherman Oaks who will occupy about half of the property for its home nursing provider business. 

The price-per-square-foot for the property garnered approximately $346, one of the highest prices to date in the market for comparable assets.

Built in 1985, the well-maintained and well-located property was recently renovated. It is adjacent to the Hollywood 101 and 405 freeways, offers easy access to Ventura Blvd., and is within walking distance to Fashion Square Mall. The asset offers ample parking (22 spaces), balconies, and four individually metered suites.

Roger L. Beck
“The occupancy at the close of escrow was 50 percent,” said Beck. “The new owner-user will continue to lease out space to existing tenants, while using the remainder of the space for its business.”

Beck added: “Inventory in the Sherman Oaks area is very low for available office space – especially smaller office product that is well-suited for an owner-user situation.

“Understanding the office ownership demand from small business owners, our marketing strategy targeted local businesses in the area and we were able to secure a solid buyer for our client.”

This is the second time Beck and Skya-Wasserman have sold this particular property.

Skya-Wasserman noted: “In 2008 our team represented CG Investments, LLC when it acquired the asset in an owner-user situation, and again when they expanded to a new location in 2011.”

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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