Jan 22, 2019
MADISON MARQUETTE COMPLETES SALE OF TWO LOS ANGELES AREA PROPERTIES
LOS ANGELES – The Los Angeles office of the recently merged PMRG and Madison Marquette today announced that it has completed two investment sale transactions in Los Angeles on behalf of a Southern California private equity company.
- Private investor Amir Esmailzadeh paid $13.2 million for a 15,160-square-foot office building located 12381 Wilshire Boulevard in the Los Angeles, California submarket of Brentwood. The two-story office building has served as headquarters for the Adamson Companies since the mid-1970s and houses eight other local tenants. The buyer is expected to upgrade the exterior and common areas over the next few months.
- A family trust paid $3.2 million for a 24,000 square foot manufacturing building located at 20601-5 Annalee Avenue in Carson, California. The manufacturing facility was built in 1970 and has been the home to an injection molding company for over 40 years. The building will be vacated in April and undergo a major renovation on behalf of Johnson Laminating.
Mark Mattis, Senior Vice President of Madison Marquette, represented the seller. The buyers of both the Wilshire Boulevard and Analee Avenue properties represented themselves.
“Investors of all types continue to see opportunities in Los Angeles commercial real estate,” said Mattis. “With both of these properties, we received multiple offers from local, regional and national investors. 2019 is expected to be another banner year for this market with a significant amount of capital chasing limited supply.”
PMRG merged operations with Madison Marquette in June 2018 to create a new leader in commercial real estate. The firm offers PMRG’s leasing, property management, investment management and development services, combined with Madison Marquette’s specialized development, investment and marketing expertise. Madison Marquette’s strength in retail and mixed-use assets joins PMRG’s office, medical, industrial and multi-family capabilities to provide national leadership across asset classes. PMRG’s dominance in the southern US combines with Madison Marquette’s presence in primary gateway markets on both coasts to serve the top institutional owners and investors in the industry. The company provides leasing and management services to a diverse portfolio of 330 assets in 24 states and manages an investment portfolio valued at over $6 billion. The combined company is headquartered in Washington, DC with a major presence in Houston, TX. With 600 professionals in 12 regional markets, the merged firm is a member of the Capital Guidance group of companies.