The 5 Most Expensive CRE Property Listings in LA County – November 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 properties listed for sale in November 2016. Properties on this list are still for sale as of the date of publication and information is current as of this date.
5. GARDENA: Tozai Plaza
15460-15508 S. Western Ave., Gardena, CA 90249
$19.365 MILLION
CoStar
Listing Broker: CBRE
Total space: 39,344 sq. ft.
Price per square foot: $118.19
Year completed: 1987
Category: Retail – Neighborhood Center
Tozai Plaza is in the heart of Gardena, on the northeast corner of S. Western Ave. and W. Redondo Beach Blvd. Tenants include numerous prominent food establishments including Marie Callender’s, Honeymee, It’s Boba Time, and Edible Arrangements.
4. WEST COVINA: 24 Hour Fitness
1530 W. West Covina Parkway, West Covina, CA 91790
$22.45 MILLION
CoStar
Listing Broker: Tweed Financial Services
Total space: 37,500 sq. ft.
Price per square foot: $598.67
Year completed: 1962, renovated 1999
Category: Retail – Health Club
If you are looking for a real estate investment in the San Gabriel Valley & have over $20 million, then this property might be for you. The current tenant of the building is 24 Hour Fitness and has 10 years remaining. Cap rate is 6%.
3. SANTA MONICA: Office Building
1302 6th St., Santa Monica, CA 90401
$25 MILLION
CoStar
Listing Broker: Charles Dunn Company, Inc.
Total space: 15,084 sq. ft.
Price per square foot: $1,657.39
Year completed: 1978
Category: Office
Located in Downtown Santa Monica, this office building is available for the first time in almost 40 years, when it was developed by the current owners. According to the listing, this is a great owner / user opportunity as all leases and options expire in less than 2 years.
2. COVINA: Office Building
800 S. Barranca Ave., Covina, CA 91723
$25.182 MILLION
CoStar
Listing Broker: CBRE
Total space: 89,937 sq. ft.
Price per square foot: $280
Year completed: 1981
Category: Office
Number 2 on the list is a five-story office building in Covina. It is one block north of the 10 freeway & is adjacent to IKEA and other retail stores.
1. MONTEREY PARK: Retail Strip Center (with empty corner lot)
740-780 W. Garvey Ave. & 120 S. Atlantic Blvd., Monterey Park, CA 91754
$29.6 MILLION
CoStar
Listing Broker: Mandarin Realty
Total space: 28,159 sq. ft.
Price per square foot: $1,051.17
Year completed: 1978
Category: Retail
The most expensive LA County property listed in November is a strip center in Monterey Park. An empty corner lot, formerly a gas station, is also part of the nearly $30 million price. The property is on the corner of Atlantic Blvd and Garvey Ave.
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.