Lee & Associates Negotiates $11.1 Million Sale of West LA Building
The Property is occupied by the Pooch Hotel which is owned by Petco
LOS ANGELES—May 29, 2014—A two-story building, which is the current location of the Petco-owned Pooch Hotel, has been sold for $11.1 million in a 1031 exchange. Located at 2250 Barrington Ave., Los Angeles, the 18,000 square-foot building was purchased by Kanin Family Trust. The seller was 1240 Palmetto LLC.
Mollie Shea Dietsch of the Commerce office of Lee & Associates, represented the buyer, who plans to operate the two-story building as a leased investment.
“Westside property of all types are in high demand,” said Dietsch. “With this demand comes the increase of values on both the sale and leasing of side.”
About Lee & Associates
Celebrating more than 35 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin. With more than 750 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information is available at www.lee-associates.com.