The 5 Most Expensive CRE Property Listings in LA County – August 2016
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 the most expensive office, mixed-use & multifamily properties listed for sale in August 2016. Properties on this list are still for sale as of the date of publication and information is current as of this date.
5. SHERMAN OAKS: Patio Del Cielo
4410 Sepulveda Blvd., Sherman Oaks, CA 91403
Listing Broker: Marcus & Millichap
Total space: 38,657 sq. ft.
Price per square foot: $478.57 (Price per unit: $596,774 – 31 units)
Year completed: 2010
Starting off the list is this 31 unit multifamily building in Sherman Oaks. It is located three blocks away from Ventura Blvd and the Sherman Oaks Galleria. It also has convenient access to both the 405 & 101 freeways.
4. RESEDA: West Valley Medical Square
19231 & 19235 Victory Blvd., 6410 & 6416 Tampa Ave., Reseda, CA 91335
Listing Broker: CBRE
Total space: 86,248 sq. ft.
Price per square foot: $266.61
Year completed: 1962, renovated 2010
Category: Mixed-Use (Medical Office & Retail)
The West Valley Medical Square consists of two medical office buildings & two retail properties, which are occupied by Walgreens & Yogurtland. The addition of a major drugstore / pharmacy is a great advantage for any medical facility.
3. WEST COVINA: Cameron Court
1501-1521 W. Cameron Ave., West Covina, CA 91790
Listing Broker: JLL
Total space: 119,470 sq. ft.
Price per square foot: $199
Year completed: 1982, renovated 1996
Named for the street on which is located, Cameron Court is a four building office complex in West Covina. The buildings have a diverse set of tenants, including government, office and medical.
2. HOLLYWOOD: Creative Office Building
941-945 N. Highland Ave., Los Angeles, CA 90038
Listing Broker: Lee & Associates
Total space: 40,000 sq. ft.
Price per square foot: $725
Year completed: 1945
Located in Hollywood Media District, this creative office building is in the center of all the action - situated near many studios & dining options. Interior features include skylights, large operable windows, and exposed ceilings.
1. BEVERLY HILLS: Ace Gallery
9430-9434 Wilshire Blvd., Beverly Hills, CA 90212
Listing Broker: MVP Commercial (Keller Williams Commercial Santa Monica)
Total space: 13,892 sq. ft.
Price per square foot: $3,311.26
Year completed: 1940, renovated 2002
At $46 million, the Ace Gallery building is the most expensive CRE listing of last month. The parcel will be an amazing opportunity for an investor, given that it is located a couple blocks from Rodeo Drive and will be the future site of a Metro subway station entrance.