Los Angeles, CA, (January 9, 2024) – DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including tenant representation, consulting, leasing, sales, and property management, has completed the sale of a 7,098 square-foot industrial warehouse property in the heart of the Arts District of Los Angeles, California. The site was acquired by a premium developer, manufacturer, and distributor of branded apparel and other merchandise for a total consideration of $4.4 million, according to Ryan Judd, associate at DAUM.
“This property was situated in an ideal location for our client,” says Judd. “The Arts District is a highly sought-after region that has become a creative hub for a variety of businesses. This acquisition positions the new owner-user near the artists and brands that comprise their client base.”
The Arts District is a vibrant and growing area recently named “LA’s Coolest Neighborhood” by TimeOut.com. Near the center of downtown, and bordered by the Los Angeles River, Little Tokyo, and the I-5 and I-10 freeways, the Arts District is home to a host of popular cafes and breweries, art galleries and museums, and creative and technology businesses.
With sales volume up by nearly 400% in the central Los Angeles region in the third quarter of 2023, according to DAUM’s market research report for Q3, the team navigated a competitive market and acted quickly to secure the quality brick building, adds Lindsay Park, associate at DAUM.
“This was an in-demand property that was on the market for less than a week,” notes Park. “Because of our extensive network of properties and connections, we were able to match our client with the location and amenities they were searching for and negotiate an excellent price—all within a few days.”
Property features include a well-constructed bowstring truss, security system, and air conditioning.
DAUM Commercial represented Fabriquer LLC as the buyer in the sale; Chad Maxner of Maxner Real Estate represented the seller, Part-Rosin Properties. LLC.
The property is located at located at 2133 Bay Street in Los Angeles, California.