Press Release brought to you by NAI Capital

NAI Capital Negotiates $4.2M Office Building Sale in Eagle Rock

12/14/2016

Los Angeles, CA Wednesday, December 14, 2016– Senior Vice Presidents Dan Bacani and Dave Maron with NAI Capital’s Pasadena office negotiated the sale of a 15,114 square foot office building in Eagle Rock, CA a neighborhood of Northeast Los Angeles County. The transaction totaled $4,200,000 or $277.89 per square foot. Bacani and Maron represented the Seller, Khaled Tawansy, M.D., Inc. The buyer was Paka Propertiers, LLC.

The office building is located at 7462 North Figueroa Street. It was designed by architect Harlan Pedersen. The two-story building was built in 1966 and completely remodeled in 2009 to accentuate its mid-century modern post and beam design. The property sits on approximately 19,730 square feet of land in a serene campus setting. With proximity to the 134 Freeway, it is in a central location to Pasadena, Downtown Los Angeles, Glendale and Burbank. The property was 100% occupied at the time of the sale.

Bacani said, “A key to our success in selling this asset for the seller was not only thoroughly understanding the unique Southern California Edison easement and the other idiosyncrasies associated with the property, but our ability to interface with a number of principal advisors including attorneys, CPA's and title officers for close to a year.”

 “The property offered the new owner a unique opportunity to acquire a newly renovated, creatively designed, multi-tenant investment with stable cash flow,” added Maron.

 

About NAI Capital

NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.

NAI Capital Brokerage CA BRE #00806840.

To learn more, visit www.naicapital.com

About NAI Global

Founded in 1978, NAI Global is a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals located throughout North America, Latin America, Europe and Asia Pacific. The firm manages over 380 million square feet of property on behalf of its clients, globally. The NAI Global Capital Markets Group serves the largest institutional owners of and investors in commercial real estate.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more, visit www.naiglobal.com.     

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NAI Capital

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