REBusinessOnline

Avison Young Arranges $8.1M Sale of Two-Building Retail Property in Hollywood, California

7611-7623-Sunset-Blvd-Hollywood-CA

At the time of sale, the two-building, 12,085-square-foot retail property at 7611-7623 Sunset Blvd. in Hollywood, Calif., was 63 percent occupied by five tenants.

HOLLYWOOD, CALIF. — Avison Young has brokered the sale of a two-building retail property located in Hollywood. A New York-based family office sold the asset to a Los Angeles-based family-owned company for $8.1 million.

Located at 7611-7623 Sunset Blvd., the property features a 3,725-square-foot building that was built in 1934 and an 8,843-square-foot building, which includes an outdoor patio space. At the time of sale, the asset was 63 percent occupied by five retail tenants.

Chris Maling and David Maling of Avison Young represented the seller, while South Park Group represented the buyer in the all-cash transaction.

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