NAI Capital Negotiates Retail-Office Value-Add Investment Sale
Los Angeles, CA December 27, 2018– Executive Vice President Sheri Messerlian with NAI Capital’s Torrance office negotiated the sale of a 6,000 square foot retail office building in Lawndale, CA. The transaction totaled $1,380,000or $230 per square foot. Sheri represented the seller, a private investor group. The buyer was 16720 Hawthorne Blvd., LLC.
The office building is located at 16720 Hawthorne Blvd. It is a two-story retail office building situated in a high traffic area on Hawthorne Boulevard. Built in 1947, the multitenant property has a gated parking lot in the rear, excellent street visibility and signage with transportation access minutes from the 405 freeway. The property was owner occupied at the time of the sale. The new owner will be converting the second floor into a dental office and lease out the first floor.
Sheri said, “Zoning for this location permits medical use on the second floor. The buyer was able to obtain a dental use permit for the second floor from the city with some modifications to the building. This was a great investment opportunity for the new buyer to convert into a multi-tenant project.”
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, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders 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 #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
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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