Matthews Real Estate Investment Services successfully secured an all-cash investor for the acquisition of a $13 million industrial warehouse near Downtown Los Angeles. The property, located at 2707 Beverly Boulevard, was represented by Associate VP Matt Sundberg and Jake Glaser of Lyon Stahl.
The flex space features 29,024 square feet on a 30,391-square-foot lot with ample parking and creative office space. Additionally, the property has recently been entitled for a mixed-use multifamily development consisting of 119 units.
According to Sundberg, this unique investment presented challenges due to its low ceilings which made it difficult to lease. However, through consistent communication and regular meetings with potential buyers, they were able to secure an excellent price from a well-established nonprofit organization that is exempt from the mansion tax.
This recent transaction showcases Matthews Real Estate Investment Services’ expertise in sourcing ideal investors for high-value properties in prime locations like Downtown Los Angeles.
