David Muir of Daum's Downtown Los Angeles office tells GlobeSt.com that A American plans to renovate and re-market the property, which is about 70% occupied, to fill the empty spaces with new renters. Muir and Jerry Sackler, also of Daum's Downtown Los Angeles office, represented both A American and the property owner the Alvern Co. of Vernon.
The storage facility is a four-story, poured-in-place concrete structure that was built in the 1930s and used as warehouse space for many years before the building owner converted it to storage space about 10 years ago. Muir says A American already is managing the building, which sits on slightly less than an acre. He says A American sees potential for increased rents in addition to marketing the vacant units to new renters.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
