Los Angeles Los Angeles

The Eastside of Los Angeles has a big appeal for retail investors. With the retail niche trending toward unique offline experience, the Eastside, known for its eclectic culture and artist communities, has been has the experiential quality that investors are looking for. An affiliate of Optimus Properties has sold a two-store street-front front retail property on North Figueroa Blvd., in Highland Park, for $658 a foot. The owner had executed a capital improvement plan to upgrade the property, and was approached by several investors to sell the property in an off-market transaction for a significant sales price.

“We did not market this deal but sale, but we received several off market offers and ultimately went with the highest offer.  While we loved the asset, the sales price was too good to turn down,” Kamyar Shabani, a co-owner of Optimus Properties, tells GlobeSt.com. While Optimus had not brought this property to market, it does plan to sell several assets this year, including two office buildings.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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