FETCHES $1.4 MILLION
LOS ANGELES -- A renovated Hollywood area industrial building, converted into general office use, has been sold as a net leased investment by RGDG Enterprises, Inc. for $1.375, with help from Coldwell Banker Commercial WESTMAC.
Brokers Craig Newlands and John Bertram teamed to represent RGDG
in selling the 4,900-square-foot building, at 1160 N. Las Palmas Ave., as part of a tax-deferred real estate exchange,
Prior to its sale, RGDG fully sheathed the building's street exposure with
silver reflective glass, renovated the electrical and HVAC systems and installed raised
floors for computers as part of a total building remodel costing about $1 million.
It is currently leased to Efilm, LLC.
Maxim Properties (Maxam Properties) of Culver City represented the buyer, Gili Yehzkel, and RPM Investments was his accommodator.
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