Joint Venture Acquires 44K SF Mixed-Use Building In Los Angeles For $7M From Blatteis & Schnur

A joint venture has acquired a mixed-use property located at 6904 Hollywood Boulevard in Los Angeles for $7,000,000. The building spans 44,000 square feet, resulting in a price per square foot of $159. This asset was previously listed at $35 million in May 2024, indicating an 80% decrease from its asking price. The property, known for its proximity to the Hollywood Walk of Fame, is currently 50% occupied and includes a lease with a Disney billboard.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $7,000,000
• Square Footage: 44,000
• Price Per Square Foot: $159
• Address: 6904 Hollywood Boulevard
• Market: Los Angeles
• Seller: Dan Blatteis & Robert Schnur - Blatteis & Schnur
• Broker: Hanley Investment Group

The transaction highlights the involvement of Dan Blatteis and Robert Schnur, representing Blatteis & Schnur as sellers. Hanley Investment Group acted as the broker facilitating the sale, emphasizing the brokerage's role in the transaction.