The Hanbit Church of Korea has shelled out $2.8 million for the asset, which encompasses a total of 24,626 sf. Located on a 1.15-acre parcel at the northwest corner of Cardin Street and Engineer Road, the facility is one of eight, two-story industrial and office buildings that Koll constructed in 1981.
Seller McKenna Color Labs Inc. dba Visual Color Labs acquired the 4717 Cardin building in 1999. Back then, the photo processing company paid $1.9 million for the asset.
In the recent transaction, McKenna Color Labs was represented by Tom Nicholas of Colliers International. Tony Suh of ERA New Star Realty acted on behalf of the buyer, with Hanmi Bank providing acquisition financing.
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