Alex Manos Purchases Retail Property At 13831 Ventura Boulevard In Sherman Oaks For $2.45M

This transaction involved the sale of a retail asset located at 13831 Ventura Boulevard in Sherman Oaks. The sale price of the property was $2,450,000 with a total square footage of 4,480, resulting in a price per square foot of $546.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,450,000
• Buyer: Alex Manos
• Seller: Irwin Hoffman
• Buyer’s Representative: Matthew Luchs - Zacuto Group
• Seller’s Representatives: Oron Maher & Jeremy Shore - Maher Commercial Realty
• Market: Sherman Oaks
• Note from Seller's Rep: Maher Commercial Realty is proud to announce the sale of 13831 Ventura Blvd, a value add corner retail building in a premier pocket of Sherman Oaks. Despite significant fire damage to half the property and low in place income, multiple offers were secured from qualified Buyers. MCR navigated a challenging debt market and damage to the building to select an experienced Buyer, represented by Matthew Luchs of Zacuto Group, which plans to activate the property with food and wellness uses, resulting in a win-win transaction for all parties.

The sale was facilitated by Maher Commercial Realty, represented by Oron Maher and Jeremy Shore, who managed to secure multiple offers despite the challenges faced due to the property’s condition. The buyer, Alex Manos, plans to enhance the asset’s potential through specific developments aimed at food and wellness sectors, indicating a strategic approach to the property’s activation.