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LOS ANGELES — Beverly Hills, Calif.-based Bolour Associates has purchased 0.69 acres, located at 163-179 S. Vermont St. in Los Angeles’ Koreatown, for $7.4 million. Simultaneous to the acquisition, Bolour signed long-term ground lease with an undisclosed quick-serve restaurant for the site.
The site’s new tenant signed a 15-year, triple-net lease and is expected to complete tenant improvements on a standalone 3,209-square-foot building, located on the property, before opening for business.
Alex Sachs and Brian Peterson of WESTMAC Commercial Brokerage Co. represented the buyer and undisclosed seller. Michael Pakravan of Matthews Real Estate Investment Services represented Bolour in the lease transaction.