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LOS ANGELES — CBRE has arranged the sale of a 30,146-square-foot development site, located at the intersection of Santa Monica and La Cienega boulevards in the West Hollywood area of Los Angeles. A Los Angeles-based real estate development firm acquired the asset from a private family for $22.5 million.
The property currently features three commercial structures on several parcels. The asset is zoned for an array of uses, including mixed-use, multifamily, hotel and other commercial functions.
Matthew Greenberg, Alex Kozakov and Pat Wade of CBRE represented the seller, while Chris Tresp, also of CBRE, represented the buyer in the deal.