Two of the top five commercial sales in April
Judd Apatow and Leslie Mann spotted the perfect location for their next… office.
The Hollywood couple’s $12.4 million purchase of a Sawtelle office for Apatow Productions led the April list of priciest retail and office investment sales in Los Angeles County.
In all, three retail properties and two office properties sold last month, for a combined $45.8 million.
With big box stores closing around L.A., the region has an increasing amount of vacant retail space. The top office sales in the most recent months were also far greater, thanks in part to one $321 million deal by Skydance Media for the Lantana Center and Lantana West in Santa Monica.
Sawtelle also made the No. 5 spot the April ranking. The properties were spread around Carson, Pomona, and West Adams, where CIM Group is expanding its footprint.
1. 2257 Colby Avenue — Judd Apatow & Leslie Mann | $12.4M
Filmmaker Judd Apatow and actress Leslie Mann purchased an office in Sawtelle for Apatow Productions for $12.4 million. Apatow Productions’ current office is on Pico Boulevard. Inter-Pacific Trading Corporation was the seller of the two-story property at 2257 Colby Avenue. It spans 15,200 square feet on a half-acre lot at the corner of Tennessee Avenue. Apatow founded the company in 1999. The couple are also in the residential game. In December, they purchased a Santa Monica penthouse for $14.5 million.
2. 2545 South Ridgeley Drive — CIM Group | $10M
CIM Group purchased a retail property in West Adams for $10 million. The sellers of the 9,000-square-foot property at 2545 South Ridgeley Drive were Hung Y. Lee, Kyung S. Lee, Byung Keun Oh, and Sugie Oh. CIM Group, which mostly focuses on Hollywood, has been targeting West Adams locations for more than a year. The firm is planning or building a mixed-use project at 5600 West Adams; a 48,000-square-foot hotel with 78 rooms on Mansfield Avenue; and a six-story at 2231 South Western Avenue. CIM Group also refiled plans with the city in April to convert an office building in the Mid-Wilshire area.
3. 1485 South Garey Avenue — American Management Group | $8.2M
American Management Group purchased a CVS Pharmacy in Pomona for $8.2 million. The store at 1485 South Garey Avenue was built in 2004. It has 15,000 square feet on a 59,300-square-foot lot. The seller was a trust that belongs to Bernice Kluft. Pomona is in the San Gabriel Valley, which is known more for its industrial deals.
4. 20930 Chico Street — The Corotto Company | $7.7M
The Corotto Company, the parent of California Fruit Depot, purchased office space in Carson for $7.7 million. The property spans 11,500 square feet. It was completed in 2017 on a 23,300 square-foot lot. The seller, DaVita Dialysis, is a Fortune 500 company with 2,400 dialysis clinics around the country, and nearly 400 in California. DaVita recently signed a 15-year lease in a newly renovated 14,125-square-foot clinic in Alhambra.
5. 1545 South Barrington Avenue — Kiumars & Shahnaz Soleimany | $7.5 million
A trust belonging to Kiumars & Shahnaz Soleimany has purchased a three-parcel retail property in Sawtelle for $7.5 million. Located at 1545 South Barrington Avenue, it includes a market and two parking lots, and is just off Santa Monica Boulevard. The seller was Jack and Barbara Garrett.
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