Brian Geis & Marta Flores Purchase Development Site At 13410 Franklin Street For $5.85M

This development site located at 13410 Franklin Street in Whittier consists of approximately 69,696 square feet and was sold for $5,849,550, translating to a price per square foot of $83. The property was notable for achieving the highest price per square foot for land over 1 acre in Whittier in the last five years, as reported by CoStar.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,849,550
• Address: 13410 Franklin Street
• Market: Whittier
• Square Footage: 69,696
• Price per Square Foot: $83
• Buyer: Brian Geis & Marta Flores
• Seller: Josh Sam
• Brokers: Nick Hayner - Maywood Property Group; Greg Alexanian - Alexanian Apartment Advisors

Nick Hayner and Greg Alexanian played key roles in the transaction, with Hayner representing the buyer and Alexanian representing the seller. The deal involved navigating complex challenges, including an 18-month entitlement process and multiple hearings, as well as managing delays from environmental groups and tenant relocations. The property had been initially priced $200K below the contract price when it was listed for over a year by a different broker.