Teng Hik Khoe Acquires Retail Property In North Hollywood From Vaghan Ghazaryan For $6.18M

The property asset involved in the transaction is a retail space located at 13329 Sherman Way in North Hollywood. It was sold for a total price of $6,175,795, encompassing a total square footage of 14,000, yielding a price per square foot of $441.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,175,795
• Address: 13329 Sherman Way
• Market: North Hollywood
• Square Footage: 14,000
• Price Per Square Foot: $441
• Buyer: Teng Hik Khoe
• Seller: Vaghan Ghazaryan
• Buyer's Representative: Andrey Mindirgasov, Chris Smith & Greg Geraci - Colliers
• Seller's Representative: Martin Agnew, Ryan Rothstein-Serling & Hannah Zager - Agnew | Serling Group - Marcus & Millichap

The transaction includes a noteworthy detail of a 10-year sale-leaseback to an auto body operator, with a Year-One cap rate of 7.21%. This structure reflects the intended use and financial strategy of the buyer and highlights the operational aspect of the property post-transaction.