The 5 Most Expensive CRE Properties in LA County - Jan 2015
Do you have millions of dollars saved up? Are you looking to invest in commercial real estate properties currently for sale in LA County? If you answered yes to both of these questions, then you might want to consider the following list of properties. This list was compiled from information provided by CoStar, and includes buildings in office, hospitality & industrial categories listed for sale in January 2015. Information is current as of January 30, 2015.
1. LONG BEACH: Building 6
4022 Conant St., Long Beach, CA 90846
Sale Broker: Lee & Associates
Total space: 150,701 sq. ft.
Price per square foot: $181.82
Years completed: 2013
At $27.4 million, this is the most expensive property listed in January in Los Angeles County. Building 6 is a relatively recent construction, built in 2013. The property flyer mentions that it is next to the Long Beach airport and close to the Port of Long Beach. In addition to being listed for sale, it is also available for lease.
2. BURBANK: Burbank Airport Center
2550 N. Hollywood Way, Burbank, CA 91505
Sale Broker: CBRE
Total space: 90,000 sq. ft.
Price per square foot: $266.67
Years completed: 1983, renovated 2000
Like the Hawthorne property above, this property is located near an airport. Only this time, it is adjacent to the Burbank Airport. But unlike the number 1 property, it is not an industrial building, but a 6-story office building. Lots of surface parking is available, allowing for easy access. Tenants in the building would like its airport-friendly location as well as its proximity to entertainment studios.
3. HAWTHORNE: Ramada Plaza LAX South
5250 W. El Segundo Blvd., Hawthorne, CA 90250
Sale Broker: ReMax Mega Group
Total space: 91,978 sq. ft. (169 rooms)
Price per square foot: $233.75 (Price per room: $127,219)
Year completed: 1972
This Santa Monica brick building is close to Silicon Beach and could be home to the Google or Snapchat, given its industrial and open-air look. Or it could be a tear down opportunity for an investor. It is close to all of the city's restaurants and entertainment options, as well as a short distance away from the 10 freeway and the forthcoming Expo station at 4th/Colorado.
4. KOREATOWN: Office Building
550 S. Western Ave., Los Angeles, CA 90020
The property is a two-story structure, comprising of 6,250 sq. ft. on each floor. The sale, according to a LoopNet listing, includes the structure at 550 S. Western, as well as property at 3901 W. 6th St. and 551 S. Oxford Ave (all contiguous properties). They boast close proximity to the Wilshire/Western Red & Purple Line subway station.
5. AZUSA: The Atrium
1303 W. Optical Dr., Azusa, CA 91702
Sale Broker: Cushman & Wakefield
Total space: 92,309 sq. ft.
Price per square foot: $188.50
Year completed: 1987, renovated 2007
Just by the looks of this building, it looks like it wasn’t built in 1987, though it was renovated in 2007, so that could explain a lot. The structure has immediate access to the 210 freeway. It’s also visible from the freeway, allowing for signage to be viewed with ease. It could be a nice purchase for a company wanting to have a campus-like atmosphere, much like Apple or Microsoft’s headquarters.
If you had millions of dollars to invest on commercial properties, would you buy any of these properties? If you do have the funds necessary to purchase and are interested in any of the listings above, please contact us and we'll work with the sales broker to realize your investment dreams.
Note: this list does not include off-market listings.