Michael Mottahedan and Brenton Sprenkle of Sperry Van Ness in West Los Angeles negotiated for the buyer. The seller, who owned the asset for about four years, was represented by the Horowitz Group of Los Angeles.
The complex, which was 63% occupied at sale time, was built in the 1960s. The two-story center at 638-672 Silver Spur Rd. sits on 1.5 acres. The buildings are designed with street-level retail and second-floor office space.
The buyer liked the property because of its topnotch location and the relatively low price per sf for the area, according to Sprenkle, who says the center is near affluent residential communities and other retail areas as well.
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