Adine Forman Acquires Beverly Boulevard Industrial Property For $13M

The industrial property located at 2707 Beverly Boulevard in Los Angeles was sold for $13,000,000. The property spans 29,024 square feet with a price per square foot of $448. The sale involved a warehouse and creative office space.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,000,000
• Buyer: Adine Forman - Hospitality Industry Training & Education Fund
• Seller: Daniel Bohbot
• Buyer's Representative: J.D. DeRosa - Transwestern
• Seller's Representative: Jake Glaser - Lyon Stahl Investment Real Estate

The buyer, Adine Forman, is associated with the Hospitality Industry Training & Education Fund, while the seller is Daniel Bohbot. Representing the buyer in this transaction is J.D. DeRosa from Transwestern, and on the seller's side is Jake Glaser from Lyon Stahl Investment Real Estate. The property was acquired by a 501(c)(3) non-profit organization which qualified for a full exemption from the Mansion Tax, saving $715,000 on the sale. The buyer's intention for the property is to utilize it for training hospitality staff for the 2028 LA Summer Olympics, with potential plans for a 119-unit mixed-use apartment development on the site.