Industrial Sale in Los Angeles

 

LOS ANGELES — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, sourced an all-cash investor for the $13,000,000 acquisition of 2707 Beverly Boulevard, an industrial warehouse near Downtown Los Angeles. Matthews™ Associate Vice President Matt Sundberg represented the seller in the transaction alongside Jake Glaser of Lyon Stahl.

 

The flex, single-tenant industrial space features 29,024 square feet on a 30,391-square-foot lot, 85+ parking space, and creative office space. The property was also recently entitled for a 119-unit mixed-use multifamily development.

 

“This investment is a unique flex space with low ceilings, which made it difficult to lease,” Sundberg said. “We would continue to update our client every week, setting regular meetings to discuss the site and interest we were receiving. In the end, we closed at a great price with a 501©3 non-profit that has been around for 10 plus years, which made this sale fully exempt from the 5.5% mansion tax.”

 

“The buyer was looking for a facility that could cater to their unique needs,” Sundberg said. “They were ready to go with an all-cash offer, making the closing process quick and efficient. I’m happy to get this deal across the finish line and accomplish both parties’ goals.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and support staff in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.