The 5 Most Expensive CRE Property Listings in LA County – October 2016
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 the most expensive retail, office & mixed-use properties listed for sale in October 2016. Properties on this list are still for sale as of the date of publication and information is current as of this date.
5. STUDIO CITY: Ventura Alcove Shopping Center
12800 Ventura Blvd., Studio City, CA 91604
$20 MILLION
CoStar
Listing Broker: CBRE
Total space: 12,388 sq. ft.
Price per square foot: $1,614.47
Year completed: 1989
Category: Retail – Strip Center
Starting the list of the most expensive properties listed last month is this strip center in Studio City. The property houses Petco and Starbucks and includes surface and underground parking.
4. REDONDO BEACH: linq
2400 Marine Ave., Redondo Beach, CA 90278
$22.25 MILLION
CoStar
Listing Broker: JLL
Total space: 50,000 sq. ft.
Price per square foot: $445
Year completed: 1964, renovated 2016
Category: Creative Office
This former flex building has been converted into creative office space and is in a very convenient location for commuters and light rail riders, as it is next to the 405 freeway and a Metro Green Line station.
3. MALIBU: Office Buildings
23805-23815 Stuart Ranch Rd., Malibu, CA 90265
$24 MILLION
Google Earth
Listing Broker: Beitler
Total space: 23,605 sq. ft.
Price per square foot: $596.33
Year completed: 1990, 1998
Category: Office
The words 'Malibu' and 'office' may not mix very well, but this Malibu office complex can be yours for $24 million. Centrally located in Downtown, the buildings are adjacent to City Hall and nearby the city library, Pepperdine University and pier.
2. DOWNTOWN: Engine Company No.28 Building
644 S. Figueroa St., Los Angeles, CA 90017
$30 MILLION
CoStar
Listing Broker: CBRE
Total space: 30,000 sq. ft.
Price per square foot: $1,000
Year completed: 1912
Category: Mixed-Use
Offered for sale is a 4-story former fire house converted to office/restaurant space. The restaurant is named after the original user, Engine Company No. 28, and fires up dishes 7 days a week. It is located across the street from the Wilshire Grand, the tallest building in Los Angeles.
1. HAWTHORNE: Hawthorne Exchange
2831 - 2909 W. 120th St., Hawthorne, CA 90250
$32.5 MILLION
Google Earth
Listing Broker: Marcus & Millichap
Total space: 60,352 sq. ft.
Price per square foot: $538.51
Year completed: 2004-2006
Category: Retail – Neighborhood Center
The Hawthorne Exchange is the most expensive property offered for sale last month in LA County. Its current tenants include 24 Hour Fitness, Starbucks, Quiznos, Wendy’s, Sprint, and Sears Home Appliance Showroom. Spread out over 6 acres, the property is adjacent to a Metro Green Line station and the 105 freeway on- & off-ramps. Notable employers within walking distance of the retail center are SpaceX & Tesla’s Design Studio, so coffee, food & exercise are never far for Elon Musk and his employees.
If you are interested in learning more information about any of the mentioned properties, please feel free to contact us by phone at (310) 943-8530 or by email at info@cbicommercial.com.
Note: This list does not include any off-market properties. While every effort has been made to verify the accuracy of the contents in this article, we cannot guarantee accuracy given that information is subject to change.