RBM Of California Inc Purchases Development Site In Los Angeles From KK Trust For $5.75M

The property involved in this transaction is a development site located at 11010 West Pico Boulevard in Los Angeles. The asset was sold for $5,750,000, comprising a total area of 16,781 square feet, resulting in a price per square foot of $342.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,750,000
• Address: 11010 West Pico Boulevard
• Market: Los Angeles
• Buyer: RBM of California, Inc.
• Seller: KK Trust
• Broker: Yigal Fatirian - Lyon Stahl Investment Real Estate
• Square Footage: 16,781
• Price Per Square Foot: $342

Yigal Fatirian of Lyon Stahl Investment Real Estate represented both the buyer and seller in this off-market sale. The property was held by the sellers' family for over 50 years and is positioned for a mixed-use development as the current tenant, Jack in the Box, nears the end of their lease. The transaction allows for the buyers to include this site in their growing portfolio of newly built apartment buildings on the Westside.