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Lion Real Estate Sells Retail Property in Los Angeles to Luzzatto Co. for $22.5M

LOS ANGELES — Lion Real Estate Group (LREG) has completed the sale of 3317 Exposition Place, a retail property in Los Angeles, to Luzzatto Co. for $22.5 million.

Situated in Los Angeles’ West Adams District, the asset is a two-story, dual-building site comprising 29,759 square feet of retail space. TheRealReal, an online luxury retailer, currently occupies the property.

Newmark served as financial advisor to LREG in the sale to Luzzatto Co.

LREG first acquired the property in a $7.3 million co-investment deal alongside The Borman Group in December 2017. Since that acquisition, the companies have invested in renovations to the convert the former industrial space into a modern creative office location, increasing its value and curb appeal. Renovations included upgraded mechanical systems; refurbished bathrooms, kitchens and conference rooms; new seismic and green building standards in line with city codes; and the reactivation of rooftop parking.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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