Shops at Concert Park
Shops at Concert Park are two retail condominium shopping centers located in the master planned community of Playa Vista. They were 100 percent leased, NNN shopping centers located on the ground floor of each mixed-use development.
The property was previously marketed unsuccessfully by another brokerage firm. The Brandon Michaels Group implemented an accelerated marketing plan and located the ideal foreign investor. The property closed at a record breaking sales price of $743 per square foot.
200 North San Fernando Boulevard
200 North San Fernando Boulevard is a vacant 11,190 square foot building located in prime Downtown Burbank. Downtown Burbank is a highly walkable, pedestrian friendly neighborhood with multiple restaurants and retailers. In addition, new developments in the area include Burbank Town Center and the former Ikea site. After an agressive marketing campaign, 200 North San Fernando Boulevard sold for $6,000,000 to the ideal buyer, who was seeking to complete renovations to the property to reposition the asset and attract top tenants.
The Roscoe/Woodman Center
13750 Roscoe Boulevard is a “bread and butter” multi-tenant strip center ideally located on the signalized corner of Roscoe Boulevard and Woodman Avenue in Panorama City. The property benefits from a stable tenant mix of retailers with solid terms remaining on their leases and the ideal strip center layout. The Roscoe/Woodman Center was 100% occupied and located in a dense location in West San Fernando Valley. The property sold at a record breaking price of $5,860,000 at a cap rate of 5.85% and a price per square foot of $574.
Gateway at Barrington
The Gateway at Barrington is a mixed-use retail and office property located in the desirable West Los Angeles submarket. All of the current tenants were on month-to month leases allowing for significant rental upside or a redevelopment of the site. The property closed at a record breaking price of $4,600,000, or $457.62.
Tarzana Professional Center
Tarzana Professional Center is a portfolio of three multi-story office buildings, which function synergistically together as a fully interactive office campus located in Tarzana, CA. The building was 82% occupied at time of sale.The Brandon Michaels Group’s marketing efforts produced the ideal 1031 exchange Buyer and closed at a market leading sales price of $32,000,000. The transaction was awarded the Silver Award for “Best Office Sale” by the San Fernando Valley Business Journal.
5715 Mesmer Avenue
5715 Mesmer Avenue was built in 2006 and designed by award winning architects, Purgh + Scarpa. The building consists of three levels and features cutting-edge design and energy efficient glass windows. The owners of this state-of-the-art office had operated their business out of this location for over a decade. Located in the heart of the Silicon Beach submarket, 5715 Mesmer Avenue is ideally situated at the gateway of tech hub, Playa Vista. The local area has become one of the strongest in Southern California due to the influx of high-profile tech companies such as Google, Yahoo, Youtube, and others.
As off-market offers came in on the property, the Sellers decided to engage our team. From start to finish, the Brandon Michaels Group closed escrow in 30 days at $12,300,000, setting the market for the highest sale in the immediate area at $923 per SF.
Warner Center North
Warner Center North is a 52,847 SF office building located in Warner Center. The property was 93% occupied at the close of escrow. Warner Center North is optimally located in Warner Center, walking distance to the newly remodeled Westfield Topanga Shopping Center as well as the brand new, open-air Village at Westfield Topanga. In addition, directly adjacent to Warner Center North is a proposed $3-4 billion mixed-use, high rise development named Uptown at Warner Center. Warner Center North sold for $10,096,130.
The Dollar Tree at 5057 W. Washington Boulevard in the mid-city neighborhood of Los Angeles had a brand new, 10 year NNN lease. The building was newly constructed in 2014 with plenty of on-site parking. Dollar Tree had two, five year options as well as rental increases every five years. The property was sold for $5,200,000 at a cap rate of 5%.
22200 Sherman Way is a brand new 20-year absolute NNN McDonald’s ground lease with eight five-year options.
The McDonald’s offered an investor excellent investment grade credit. The subject property sold for a record-breaking cap rate of 3.28%, the lowest CAP rate ever recorded for a McDonald’s. It sold above list price by $120,000.
431 N. La Cienega Boulevard
431 N. La Cienega is the 32,574 square foot piece of land that is the home to Royal Car Wash. The property is ideally located between Beverly Boulevard and Melrose Avenue on La Cienega Blvd, next to the Beverly Center. As a result of its prime location, the owners received multiple offers to purchase the property off-market, which they worked on for a year. Due to their unsuccessful attempts to try and sell the property off-market, the Sellers hired our team. Within 30 days, we were in escrow at a significantly higher price. In addition to the successful marketing, we were more importantly able to insulate the Seller from a significant price reduction and position the Seller to close the escrow at a record breaking sales price.
1580 Jesse Street
1580 Jesse Street is a 44,866 square foot piece of land that is the home to Select Produce. Ideally located in the heart of the Arts District, one of the fastest growing markets in the country, the property received a significant amount of activity from developers looking to acquire the site on an off-market basis. Though tempted by the off-market offers in the range of $9,000,000 – $10,000,000, the Seller’s hired our team to represent them. Escrow successfully opened and closed at the price of $13,500,000. Not only did we achieve a market leading sales price, but we also insulated the Seller’s from the Buyer’s attempt at a price renegotiation.