Just SOLD | Petco Northridge

Just SOLD | Petco Northridge

IREA is pleased to announce the closing of Petco at 8800 Tampa Ave in Northridge, CA for $9,695,000. The property was purchased as part of a 1031 exchange for the buyer, a private individual.

“With tremendous visibility from high traffic counts on Tampa Avenue, this destination location is an outparcel to Costco and adjacent to In ‘N Out,” adds Partner Jonathan Krikorian.

Partners Clark Everitt, William Everitt, and Jonathan Krikorian of Investment Real Estate Associates (“IREA”)  represented the buyer.

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Just SOLD | 3815 McLaughlin Ave

Just SOLD | 3815 McLaughlin Ave

IREA is pleased to announce the closing of 3815 McLaughlin Ave, a 27-unit multifamily property built in 1989  for $12,800,000 in West Los Angeles. Sold by IREA partners Jonathan Krikorian, Clark Everitt and William Everitt, the partners represented both buyer and seller, private individuals from California.

“Despite the looming threat of the repeal of Costa-Hawkins, our marketing process generated 10+ offers, showing the continued appetite for non rent-control product in prime West Los Angeles locations,” notes partner Jonathan Krikorian.

Located in Mar Vista adjacent to Silicon Beach, the property features unique floorplans with lofts and patios.

“The seller selected the buyer based on their vision for the property’s future. An extensive renovation of over 50% of the units is already underway,” adds partner Clark Everitt.

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JUST CLOSED | 25000 Ave Stanford

JUST CLOSED | 25000 Ave Stanford

IREA is pleased to announce the sale of 25000 Ave Stanford in Valencia, an 87,000 SF office/warehouse. The Stanford Professional Center has Executive Offices to suit all budgets and office sizes. Located in Los Angeles County is the Santa Clarita Valley, a thriving business community. Santa Clarita is known for its growing business friendly environment. Valencia represents the prime office space and manufacturing center for the community.

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No on Prop 10

No on Prop 10

 
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California residents will vote on Proposition 10 on November 6, which would allow cities to impose a wide range of rent-control policies on both multifamily and single-family homes. Experts say that Proposition 10, which repeals the 1995 Costa-Hawkins Act, will negatively affect property values, dramatically reduce new construction and force owners to defer maintenance and capital improvements.

Read more at No on Prop 10.

 
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JUST SOLD | 5543 Case

JUST SOLD | 5543 Case

IREA is pleased to announce the closing of 5543 Case Ave, North Hollywood, CA for $6,850,000. This represents a price per unit of $381,000 and a price per SF of $482.

JUST SOLD | Bonita Terrace in Hollywood Hills

JUST SOLD | Bonita Terrace in Hollywood Hills

IREA is pleased to announce the sale of Bonita Terrace in Los Angeles for $10,118,888.

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IREA is pleased to announce the closing of Bonita Terrace at $10,118,888 in Los Angeles. Located at the foot of the Hollywood Hills, the 16-unit property is three stories with additional rooftop space. Sold by IREA partners Jonathan Krikorian, Clark Everitt, and William Everitt, the brokers represented both buyer and seller.

Built in 2014 with Classic Spanish architecture, the building also features elevator service, secure subterranean parking, and modern interiors.

A stunning rooftop patio features panoramic views and outdoor entertaining accessories from barbecue to an outdoor big screen TV. The building is centered in the heart of Hollywood, walking distance to restaurants, Mann Chinese theaters, the Magic Castle and the Hollywood Bowl.

Single Tenant Closings

Single Tenant Closings

Partners Clark Everitt, William Everitt, and Jonathan Krikorian closed a Giant gas station, a newly built gas station in Flagstaff, AZ for $6,248,888.  Agents were able to successful execute a custom exchange wherein clients sold multifamily property and purchased new construction 20 year triple net lease.

JUST SOLD | SHELL SERVICE STATION, FLAGSTAFF, AZ

JUST SOLD | SHELL SERVICE STATION, FLAGSTAFF, AZ

Partners Clark Everitt, William Everitt, and Jonathan Krikorian closed a Giant gas station, a newly built gas station in Flagstaff, AZ for $6,248,888.  Agents were able to successful execute a custom exchange wherein clients sold multifamily property and purchased new construction 20 year triple net lease.

JUST SOLD | FLIGHT AVE APARTMENTS FOR RECORD BREAKING $513,000 PER UNIT

JUST SOLD | FLIGHT AVE APARTMENTS FOR RECORD BREAKING $513,000 PER UNIT

IREA is pleased to announce the sale of Flight Ave Apartments in Westchester which just closed at $10,258,888. At $513,000 per unit, IREA’s Jonathan Krikorian, Clark Everitt, and William Everitt set a record for the highest price per unit multifamily sale in Westchester with the closing of Flight Ave Apartments.

Bisnow: Lacy Street Studios Is Sold For $20M

Bisnow: Lacy Street Studios Is Sold For $20M

The historic Columbia Mills Factory that has served as the site for Lacy Street Studios, where movies like "LA Confidential" and "Catch Me If You Can" were made, just sold for $20M, or $222/SF.

Just Sold | $20 Million Lacy Street Studios

Just Sold | $20 Million Lacy Street Studios

The historic Columbia Mills Factory that has served as the site for Lacy Street Studios has sold to the expanding Buck Design for their Los Angeles headquarters for $20,000,000. The 9 building, 2 acre campus at 2626 Lacy St, Los Angeles, CA 90031 is a record-breaking sale for Lincoln Heights at $222 per square foot. 

Glendale Apartments Fetch $20 Million

Glendale Apartments Fetch $20 Million

A 63-unit apartment complex in Glendale has traded for $20 million, delivering a 60 percent gain to the sellers, according to Encino commercial real estate firm Investment Real Estate Associates.

Selling Stuff Is No Longer the Point of Retail Stores

Selling Stuff Is No Longer the Point of Retail Stores

It is a weekday afternoon in May, and a dozen young women are dabbing themselves with expensive creams, serums, and balms in the Glossier showroom, a tiny, light-filled beauty sanctuary on the sixth floor of an office building in downtown Manhattan. Even the cosmetics startup’s employees, whose dewy complexions match their millennial-pink jumpsuits, are participating.

Historical Cultural Monument #1139: The Catalina Swimwear Building

Historical Cultural Monument #1139: The Catalina Swimwear Building

The Catalina Swimwear Building is a six-story Downtown Los Angeles industrial building constructed in 1923. The building has a Neoclassical façade sheathed in a Flemish Bond brick pattern; the sixth story of the building features a projecting balconet, molded stringcourse, and rounded arch windows framed by pilasters and topped by a broken Classical pediment. William Douglas Lee, a prominent Los Angeles-based architect and designer, designed and constructed the building for Pacific Knitting Mills, which became Catalina Swimwear company in 1928. Lee’s other works include the Textile Center Building (HCM #721), the Garment Capitol Building (HCM #930), and the El Royale Apartments (HCM #309). This was Lee’s first major commission as an independent architect and the building reflects the early development of the Garment District in Downtown.

Just Closed! | 17 Units in Mid-City Los Angeles

Just Closed! | 17 Units in Mid-City Los Angeles

Investment Real Estate Associates (“IREA”), a national investment real estate advisory firm based in Encino, California announced the sale of Hayworth Ave Apartments, a 17 unit, three story multifamily asset. At $10,188,889 the property sold at a 3.5% cap rate and sold at a strong $600,000 per unit.

THE STORY OF THE EL ROYALE, LA’S MOST GLAMOROUS APARTMENT BUILDING

THE STORY OF THE EL ROYALE, LA’S MOST GLAMOROUS APARTMENT BUILDING

Los Angeles has always been a city of strivers and social climbers. In the 1920s, this proclivity for luxury and respectability manifested in an unprecedented construction boom.

The boom transformed the city from a Wild West outpost of small Victorians and adobes into a concrete and steel metropolis rivaling the great cities of the East Coast. On North Rossmore Avenue, in sophisticated Hancock Park, several “New York style” high-rise apartments were built near the new Wilshire Country Club to house the city’s self-proclaimed aristocracy.