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5/14/20
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A private investor from West L.A. paid $5 mil for a 6.5k sf industrial building with excess land located at 2133 and 2143 Pontius Ave, at the northwest corner with Olympic Blvd, just east of the 405 Fwy. We’re told this was a record-setting deal for the West L.A. submarket with the highest price per square foot of $590 paid for an industrial building under 10k sf and $300 per sf for the land (per CoStar records.)
The property and excess land are situated on a .3-acre land parcel. Built in 1948, the building features a high clear span, bow truss design with sufficient loading and power, warehouse skylights and 14’ minimum ceiling height. It was formerly occupied by an auto repair shop who recently vacated.
Patrick Barnes, Chris Maling and David Maling with Avison Young, along with John DeGrinis of Newmark Knight Frank, represented the seller, a private investor from California. The buyer was repped by David Kamran of Diva Real Estate Group.
“This property is in one of the most desirable commercial/industrial areas of West L.A. because of the zoning and location,” said Barnes. “Its proximity to the 405 and 10 freeways via W. Olympic Blvd and accessibility to a vast array of Westside area amenities, made this a record-setting transaction.”
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