Available For Sale - Office , Retail

46,414 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
46,414 SF
Price/SF
Show Pricing $
Listing ID
SA416706
Notes
For sale the unique opportunity to acquire 777 E. 12th Street, a rare multi-tenant investment opportunity located within the highly coveted Fashion District neighborhood of Downtown Los Angeles.

With its premium frontage and high-profile corner location, the subject property is one of the tallest and most visible assets within the Fashion District. The building is approximately 81,009 SF* and was constructed in 2006. Currently 93% occupied, 777 E. 12th Street contains retail and office tenants under long-term, short-term, and month-to-month gross leases. Several of the larger tenants (Pacific City Bank, United Valet Parking, etc.) equate to over 50% of the building’s square footage and have operated at their current spaces for nearly 10+ years. The property also boasts some of the best dedicated parking available within the Fashion District, which helps maintain high occupancy and some of the most competitive rents in the market. Perhaps the most significant attraction of the asset rests in the positively trending future of the submarket as a whole. The entire Downtown Los Angeles area has been experiencing a tremendous amount of investment and will continue to expand with several plans implemented by the City of Los Angeles (i.e. DTLA 2040 plan) to help boost job growth, increase the local population and develop world-class infrastructure within the Central Business District.

The property is currently being offered at an attractive 5.73% cap rate, providing an appealing return with upside potential in rents, parking revenue, and vacancy lease up. The opportunity allows an incoming investor to acquire a cash flowing investment property with several long-term tenants within the extremely dense and flourishing Downtown Los Angeles marketplace.
Uses
Office
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Josh Salik, Salik Real Estate & Development