Bolour Associates Inc. has acquired a high-profile neighborhood retail center for $6.55 million in the Silver Lake district of Los Angeles. Totaling 9,884 square feet, the property sits on a signalized corner at 2829 – 2843 Hyperion Ave., within a Los Angeles State Enterprise Zone, surrounded by some of the market’s most popular grocery tenants, boutique retailers, restaurants and bars.
The property is 50% leased to a mix of tenants including Pinkberry, Standing Egg Coffee, Cats and Dogs and The Village Vet. As part of a comprehensive value-add and lease-up strategy, Bolour will complete both exterior capital improvements and interior tenant improvements designed to enhance the center’s appeal and drive leasing momentum.
“Strong in-place cash flow, significant lease-up potential and a prime location made this a compelling opportunity that capitalizes on our value-add expertise,” said Bolour CEO Mark Bolour.
Oron Maher of Maher Commercial Realty represented the building seller.
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