LOS ANGELES — A private family has completed the disposition of a retail property in the Studio City neighborhood of Los Angeles. A private investor acquired the asset for $6.9 million.
Sit N Sleep, a mattress retailer, has occupied the two-story, 15,000-square-foot building at 12318 Ventura Blvd. for 11 years. The tenant’s current lease terminates in 2023, with a six-year option to renew.
Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal.