Adler Realty sells Prime Retail Corner in Los Feliz for $9,250,000
Los Feliz , CA (August 8th, 2012) –Adler Realty Investments announced today the sale of its newly renovated retail building at the corner of Los Feliz Boulevard & Hillhurst Avenue to a private investor. The 14,000 square foot building is occupied by Chase Bank and formerly Louise’s Tratoria who is in the process of opening their new restaurant called Mess Hall.
Adler had completed the renovation of the building last year and had also sold an adjacent half acre lot to the Church of Scientology. Adler had originally planned to re-develop the site with a new mixed use project but the community opposed the new development.
“We are pleased with the outcome of this project.” said Michael Adler, President of Adler Realty Investments. “The renovation of the building provided a much needed face lift for such a prominent corner of Los Feliz.”
Duncan Lemmon and John Battle of Lee & Associates were partners in the deal and also represented the seller in the sale.
ABOUT THE COMPANY
Adler Realty Investments, Inc. is a full-service real estate investment and development firm with over $350 million in assets currently under ownership/management. ADLER’s real estate portfolio consists of more than 2.5 million square feet of office, industrial, retail and multi-family residential properties in Texas, California, Colorado, and Arizona, as well as vacant land for future development. ADLER’s trademark is its unparalleled ability to identify, analyze, negotiate and close transactions involving many different types of real estate. ADLER has the experience and expertise required to execute management and development strategies to maximize a property’s value in the market.
For more information, please contact Michael Adler at (818) 884-2200 or visit www.adler-realty.com. Adler Realty Investments, Inc. is located at 20951 Burbank Blvd. Suite B, Woodland Hills, Calif. 91367.
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