Los Angeles, CA – May 18, 2021 – Yair Haimoff, SIOR, Barry Jakov, and Zach Rabinowitz with Spectrum Commercial Real Estate, Inc., are pleased to announce the recent sale of an industrial building located in prime downtown Los Angeles, CA.
Haimoff, Jakov, and Rabinowitz represented the seller. The buyer is an owner-user.
The property is located at 1427 Elwood Street in Los Angeles, CA, near the corner of 14th Street and Elwood Street. This site is in a prime downtown Los Angeles location, situated within the Blue Zone and in close proximity to major Los Angeles landmarks. It is minutes from the Art District, the Fashion District, LA Live, and the Staples Center, and the site provides easy access to onramps for the I-10, I-5, I-110, and 101 freeways.
The single tenant industrial building is 4,840 sq. ft., and it is situated on an approximately 5,738-square-foot., LAM3-zoned parcel. The structure was built in 1970, and it features 12’ – 14’ of warehouse clearance, one 12’x11’ ground loading door, and fenced and secured parking.
The demand for industrial property in the downtown Los Angeles area remains extremely high while supply remains low. The transaction closed at an above market rate due to low availability and the property’s unique features.
The industrial building sold for $2,000,000.
Call broker for more information.
About Spectrum Commercial Real Estate, Inc.
Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a pioneering approach to brokerage services. The firm’s full spectrum of services includes tenant and landlord rep, leasing, sales (owner-user and investments), 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, build-to-suit developments, debt/equity, and providing clients with exceptional brokerage services. For more information, visit www.Spectrumcre.com