The 5 Most Expensive CRE Properties in LA County - March 2015
Do you have millions of dollars saved up? Are you looking to invest in commercial real estate properties currently for sale in LA County? If you answered yes to both of these questions, then you might want to consider the following list of properties. This list was compiled from information provided by CoStar, and includes buildings in office and multifamily categories listed for sale in March 2015. Information is current as of March 20, 2015.
Starting with #5...
5. LOS ANGELES: The Coffee Bean Headquarters
1941-1949 & 1959 S. La Cienega Blvd, along with 1956 Chariton St.
Los Angeles, CA 90034
$14 million
CoStar
Listing Broker: CBRE
Total space: 25482.8 sq. ft.
Price per square foot: $549.39
Years completed: 1962/1989 & 1950 & 1929, respectively
Category: Mixed (Office & Residential)
Coffee Bean’s world headquarters are for sale, since they are moving to a larger facility. The sale is unusual since it includes a single-family house adjacent to the larger office buildings, spelling a good owner / user opportunity. The property would be ideal for investors who want a highly-trafficked location, easy access to the 10/405, frontage along busy La Cienega Boulevard and income from the billboard on site.
4. MALIBU: Multifamily Buildings
6453 Sycamore Meadows Dr., Malibu, CA 90265
$14 million
CoStar
Listing Broker: Miller & Desatnik Realty
Total space: 11,854 sq. ft.
Price per square foot: $1,181.04 (Price per unit: $1,166,667)
Year completed: 1957
Category: Multifamily
This 12-unit Malibu apartment complex is situated on approximately 3.4 acres of ocean view land. The property is only a street-crossing away from Escondido Beach, boasting an enviable location. Apartments can be renovated, redeveloped for condos or a residential estate. The listing price of the property is definitely due to the relatively high cost of land in Malibu. If and when sold, the apartments would be one of the most expensive multifamily properties sold in LA County, in terms of price per unit.
3. VAN NUYS: The Easton Building
7855 Haskell Ave., Van Nuys, CA 91406
$15 million
CoStar
Listing Broker: Madison Partners & LA Realty Partners
Total space: 72,292 sq. ft.
Price per square foot: $189.17
Year completed: 1986
Category: Office
Boasting convenient access to the 405 freeway and the Van Nuys Airport, the building is situated on almost 100,000 sq. ft. of land. The office building features 203 parking spaces and a light manufacturing facility / office space that could be ideal for a single tenant or owner/user. There are gym and shower facilities in house.
2. SAN DIMAS: San Dimas Corporate Park
936-960 Overland Ct., San Dimas, CA 91773
$15 million
CoStar
Listing Broker: Cushman & Wakefield
Total space: 79,036 sq. ft.
Price per square foot: $189.79
Year completed: 1987
Category: Office
The San Dimas Corporate Park is a suburban business complex located in San Dimas, CA – 25 miles east of Downtown Los Angeles. As in any suburb commercial development, the property has plenty of surface parking – 264 spaces to be exact. According to CoStar, all two floors of the building are vacant, so it may be a great owner/user opportunity.
1. SAN DIMAS: WesCorp Building
924 Overland Ct., San Dimas, CA 91773
$19.7 million
CoStar
Listing Broker: Cushman & Wakefield
Total space: 98,505 sq. ft.
Price per square foot: $199.99
Year completed: 1992
Category: Office
Stillwater Investment Group bought this building (as well as San Dimas Corporate Center - #2 on this list) just last month and is apparently looking to flip this property very quickly. The complex is nearby the 210/57 highway intersection, allowing for convenient travel in all directions. Like #2, both of the building’s floors are vacant. At $19.7 million, the WesCorp building is the most expensive listing in LA County so far in March.
If you had millions of dollars to invest on commercial properties, would you buy any of these properties? If you do have the funds necessary to purchase and are interested in any of the listings above, please contact us and we'll work with the sales broker to realize your investment dreams.