|
|
9/19/19
|
A 2.7k sf, retail property net-leased to Jack in the Box has traded for $4 mil, or $1,481/sf. The store is located at 5101 W Jefferson Blvd, at a signalized intersection in front of the La Brea Expo Line in L.A.’s rapidly gentrifying West Adams submarket.
Cole Martens and Cory Stehr with Lee & Associates-LA North/Ventura represented the buyer, a private investor who acquired the NNN investment as an upleg in a 1031 Exchange. Stehr also repped the investor in the downleg, an Orange County shopping center that sold for $4.5 mil.
“You couldn’t ask for a better location for an investment property,” Stehr said, “not only because of the immediate proximity to the Expo line, but also because West Adams is in the midst of a major transformation with numerous developments underway and property prices on the rise.”
No less than 25 developments are underway in West Adams area, including multifamily, retail, hotel and office properties, in part due to West Adams’ designation as an Opportunity Zone, according to Lee & Associates.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
