Los Angeles Office Building Sells for $2.3 Million
Fabio Demelo purchases an office building in Los Angeles from Steven Florman, Michelle Florman, and Sassan Amini.
In a recent transaction in the Los Angeles commercial real estate market, Fabio Demelo has acquired a 3,585 square foot office building located at 1907 E. Washington Blvd. for a total sale price of $2.3 million. The property was sold by Steven Florman, Michelle Florman, and Sassan Amini.
The office building, situated in a prime location in Los Angeles, offers a total of 3,585 square feet of space. With a price per square foot of $642, the property presents an attractive investment opportunity for Demelo.
The buyer, Fabio Demelo, is a prominent investor in the Los Angeles real estate market. Demelo has a track record of successful acquisitions and has been actively expanding his portfolio in the area. This latest purchase adds to his growing portfolio of commercial properties in Los Angeles.
On the selling side, Steven Florman, Michelle Florman, and Sassan Amini have decided to divest their ownership of the office building. The reasons behind the sale were not disclosed, but it is likely that the sellers saw an opportunity to capitalize on the strong demand for office space in Los Angeles.
The transaction was facilitated by a team of brokers from Kidder Mathews, including Jay Martinez, Michael Criswell, and Darin Spillman. Martinez, Criswell, and Spillman are well-known figures in the Los Angeles commercial real estate market and have a reputation for successfully closing deals. Their expertise and knowledge of the local market were instrumental in bringing together the buyer and seller.
The sale of the office building at 1907 E. Washington Blvd. highlights the continued demand for commercial real estate in Los Angeles. Despite the challenges faced by the industry in recent years, the market in Los Angeles remains robust, with investors like Fabio Demelo actively seeking opportunities to expand their portfolios. With its prime location and attractive price per square foot, the office building presents a promising investment for Demelo.
Overall, the sale of this office building demonstrates the strength of the Los Angeles commercial real estate market and the confidence of investors like Fabio Demelo. As the market continues to evolve, it will be interesting to see how this transaction impacts future deals in the area.