Bridge Properties Acquires Retail Asset In Montebello From Seungkwan Lee For $5.41M

The property involved in this transaction is a retail asset located at 1200 South Greenwood Avenue in the Montebello market. It encompasses a total area of 26,515 square feet and was sold for $5,410,000, which translates to approximately $204 per square foot.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,410,000
• Buyer: Bridge Properties
• Seller: Seungkwan Lee
• Buyer's Representative: Ara Rostamian, Jason Anguiano & Orbell Ovaness - Marcus & Millichap
• Square Footage: 26,515 SF
• Price Per Square Foot: $204

The Ovaness-Rostamian Group represented the Buyer, Bridge Properties, in this transaction and effectively managed a complex escrow process. The Buyer's approach was noted as first-class, and their future plans for the property are anticipated to enhance its value significantly.