 |
| 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
