REBusinessOnline

Marcus & Millichap Arranges Sale of North Hills Retail Portfolio in Los Angeles

LOS ANGELES — Marcus & Millichap has brokered the sale of a two-property retail asset located in Los Angeles’ North Hills neighborhood. A limited liability company sold the portfolio to a partnership for $6.2 million.

The asset consists of two adjacent parcels featuring 7,835 square feet of building space and 52,260 square feet of commercial-zoned land. According to Marcus & Millichap, the sales price represents a market-leading price per square foot of $798 for the existing structures and $120 per square feet for the land.

Brandon Michaels, Steven Schechter and Sean Brandt of Marcus & Millichap’s Encino, Calif., office represented the seller and buyer in the deal.

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