The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 23, 2018
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Out of State Investor Buys Mixed-Use Portfolio in L.A.’s Highland Park

7/30/18

Charlotte, NC-based Asana Partners has purchased The Fig Collection @ Highland Park, a three-property mixed-use portfolio in the L.A. submarket of Highland Park. The properties were sold by Engine Real Estate, a Los Angeles-based private investor, for $23.25 mil.

JLL's Dana Brody handled the sale on behalf of the seller. Geoff Tranchina, also with JLL, repped the buyer.

“This portfolio was attractive to the buyer because of the opportunity to buy a stable asset in a growing submarket of Los Angeles,” said Brody. Highland Park is known as a hip neighborhood within Los Angeles which has a “small-town” feel. The submarket also features access to mass transit and proximity to major employment centers such as Downtown LA and Burbank.

The portfolio includes:

• 5900 N. Figueroa St and 111 S. Avenue 59 -- a two-building multifamily and retail property. The main building at 5900 N. Figueroa St includes 12 well-maintained studio and one-bedroom apartment units above 11.3k sf of ground floor retail. It includes a total of five retail spaces which are 86% leased to two tenants -- vegetarian eatery Kitchen Mouse (occupying three spaces) and Tinfoil Liquor, a trendy bodega. The adjacent, smaller building, 111 S. Avenue 59, is an iconic 4.2k sf bow-truss structure that is home to Los Angeles' first outpost of Mr. Holmes Bakehouse, a San Francisco-born modern bakery.

• 5711 N. Figueroa Street -- a single-story, 2.3k sf retail building that is 100% leased to Sonomama, a high-end gift and apothecary shop, and Afters Ice Cream, a hip ice cream shop with outposts across Southern California and a strong social media following.

• 5715-5717 N. Figueroa -- a neighborhood landmark which is well known for its “Frank’s Camera” sign on its exterior. The two-story-with-basement building features 22.5k sf of recently remodeled retail and commercial office space which is 100% leased to six tenants. The basement is leased to LemonTree, an audio production facility and recording studio. The ground floor is leased to Blind Barber, a barber shop with a speakeasy bar, Chops Market, a deli, and Otono Restaurant. The second floor consists of commercial office space which is leased to Pacific Union, the luxury residential real estate brokerage firm, and Arrive Enterprises.





Return to the Archive page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media