Lee & Associates has recently completed the sale of a 86,459-square-foot building located at 777 E. 10th Street in Los Angeles for $18 million. The property was foreclosed upon by the seller in February of 2022.
The transaction was facilitated by Matthew Sullivan, managing broker of Lee & Associates Investment Services Group, who represented the seller – CSAIL 2015-C1 Commercial Mortgage Trust. The buyer, Very J Inc., was represented by Jim Halferty and Mike Smith from Lee & Associates Commerce office.
At closing, the property had an occupancy rate of only 43%. However, as part of their plans to establish a corporate headquarters in downtown LA’s fashion district between Crocker Street and Towne Avenue , Very J Inc. will occupy multiple floors within this four-story building which was built back in2009.
This recent acquisition marks an exciting new chapter for both parties involved as they look forward to utilizing this prime location for their business operations.
