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7/24/18
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In a recent San Fernando Valley retail comp, a 4k sf, multi-tenant building in the southern Valley community of Sherman Oaks sold for $2.55 mil, or $641/sf. The property, located at 4325-4329 Woodman Ave, was sold by Hadle2, LLC.
The property is situated just north of the intersection of Ventura Blvd and Woodman Ave, a major signalized corner of Sherman Oaks. Tenants at the property include Jerusalem Sandals, Art Loris Salon and Orchid Republic.
Cole Martens and Cory Stehr at Lee & Associates-LA North/Ventura represented the seller in the transaction.
“Our client had invested in renovations to the property, and it was fully occupied,” Martens said. “The property also included a billboard which generates additional income, so all in all, we were able to trade it at a 3.5 percent cap rate.”
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