The Sunset building is fully leased to Auto Zone and DaVita, Inc., operator of Total Renal Care. Buyer Owen Family Trust, who was represented by Fred Fardoust of Realty Investments and Marina Holland and Joseph Yaghoubzadeh of Century 21 Exclusive Realtors, purchased the property for $3 million.
The Vanowen St. center, which sold for approximately $1.5 million, is 88% leased to 10 local tenants. The buyer, Fred Samati, was represented by Fred Fardoust of Realty Investments and Marina Holland and Joseph Yaghoubzadeh of Century 21 Exclusive Realtors.
Fred Sheriff of Charles Dunn Company's West Los Angeles sales office represented MB&S Silverman. Mr. Sheriff and Janet Neman of Charles Dunn Company's Los Angeles sales office represented Vanowen Noking.
Both of these sellers received multiple offers during the marketing period, resulting in a sales price for one property that was higher than the listing price, according to the Charles Dunn Company. Retail centers continue to be among the preferred product types for private real estate investors, due to their solid, stable performance and ability to withstand market fluctuations.
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