The Hanbit Church of Korea has shelled out $2.8 million for theasset, which encompasses a total of 24,626 sf. Located on a1.15-acre parcel at the northwest corner of Cardin Street andEngineer Road, the facility is one of eight, two-story industrialand office buildings that Koll constructed in 1981.
Seller McKenna Color Labs Inc. dba Visual Color Labs acquiredthe 4717 Cardin building in 1999. Back then, the photo processingcompany paid $1.9 million for the asset.
In the recent transaction, McKenna Color Labs was represented byTom Nicholas of Colliers International. Tony Suh of ERA New StarRealty acted on behalf of the buyer, with Hanmi Bank providingacquisition financing.
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