Elat Properties Acquires Office Building On 801 South Grand Avenue In Los Angeles For $41.9M

Located at 801 South Grand Avenue in Los Angeles, this office property was recently sold in a transaction involving Elat Properties as the buyer and CIM Group as the seller. The deal was facilitated by brokers Omid Broukhim of Barak Investors Group and David Maghen of MIP Investment. The property spans a total area of 215,100 square feet, and the sale price amounted to $41,900,000, resulting in a price per square foot of $195.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $41,900,000
• Address: 801 South Grand Avenue
• Market: Los Angeles
• Buyer: Elat Properties
• Seller: CIM Group
• Brokers: Omid Broukhim - Barak Investors Group & David Maghen - MIP Investment
• Size: 215,100 square feet
• Price per Square Foot: $195

Barak Investors Group and MIP Investment played a pivotal role in this transaction by introducing the buyer, Elat Properties, to the deal. Their expertise and efforts were instrumental in successfully closing the sale of this office property in Los Angeles.