Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Santa Monica-based First Avenue Realty has bagged a retail space in Van Nuys for $5.2 million. The property, which is located at 7155 Van Nuys Blvd, is solely occupied by retail giant Walgreens.

Donald Emas and Kevin Boeve of Marcus & Millichap’s Ontario office represented both the buyer and the seller, Beverly Hills-based Corsair LLC.

A handful of retail properties have changed hands in recent weeks. The Walgreens transaction follows the recent sale of Pupilo Plaza, an Azusa retail complex that encompasses 16,440 sf. The multi-tenant shopping center was acquired for $1.6 million, as reported by Globest.com. Located on 530 Citrus Ave., it is 100% occupied by local retailers. The property was on the market for 28 days before it was snatched up by private investors Edward and Soon Hong. The complex was sold by Peison Holding LP.

Other recent retail sales include a 70,000-sf parcel that was acquired in Van Nuys for $2.2 million and a Tarzana office and retail complex that was sold for $1.3 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.