Jonah Garb Of Canyon Crest Ventures And Eric Shulman & Joe Spicer Of Flying Horse Investments Acquire Retail Asset In Los Angeles For $5.2M

The property located at 2501 West Sunset Boulevard in Los Angeles is a retail asset with a sale price of $5,200,000. The building encompasses approximately 8,785 square feet, translating to a price per square foot of $591. Currently, the property is 83% occupied, with existing rents below prevailing market levels.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,200,000
• Buyer: Jonah Garb - Canyon Crest Ventures; Eric Shulman & Joe Spicer - Flying Horse Investments
• Mortgage Broker: Jason Blau - Pegasus Capital Markets
• Square Footage: 8,785
• Price Per Square Foot: $591

Jonah Garb, Eric Shulman, and Joe Spicer are involved in the transaction representing the respective companies Canyon Crest Ventures and Flying Horse Investments. They plan to implement a targeted capital improvement program that includes façade enhancements, signage upgrades, and activation of outdoor spaces. Additionally, they aim to reset rents to market levels and introduce a complementary mix of tenants as part of a strategic leasing initiative.