Arthur Sargsyan Purchases Office Property At 120 Cypress Avenue Burbank For $3 Million

The property involved in the transaction is located at 120 Cypress Avenue in Burbank and is categorized as an office asset. The sale price was $3,000,000, and the property encompasses 8,188 square feet, equating to a price per square foot of $366.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $3,000,000
• Buyer: Arthur Sargsyan
• Seller: Micheline Pitt & Lynh Haaga
• Brokers: Darren Casamassima & David Kaufman - Lee & Associates
• Market: Burbank
• Square Footage: 8,188
• Price Per Square Foot: $366

The transaction featured Arthur Sargsyan as the buyer and Micheline Pitt & Lynh Haaga as the sellers. The deal was facilitated by brokers Darren Casamassima and David Kaufman of Lee & Associates, who represented both sides. The property is intended to serve as the headquarters for a technology platform company, emphasizing the growing interest in creative-flex properties within the Burbank area.