John Nik Acquires Retail In Los Angeles From Carlos Marquez For $5M

The property at 2603 South Central Avenue in Los Angeles, a retail asset, was recently sold for $5,000,000. Spanning 20,920 square feet, the property was acquired by Jacob Sayed from the seller Carlos Marquez. The transaction was facilitated by Gabriel Talasazan from Beverly & Company.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $5,000,000
• SF: 20,920
• Price Per Square Foot: $239
• Buyer: Jacob Sayed
• Seller: Carlos Marquez
• Broker: Gabriel Talasazan - Beverly & Company

The sale of the property was an off-market transaction involving a real estate and business sale. The property, known as the Original Marquez Service Station, has been a landmark in the area for over 45 years. Initially part of a larger portfolio of gas stations owned by the Marquez family, this station was the first one they acquired and the last one they retained. The station has recently been debranded from Valero and the new owner has the option to rebrand with a more reputable company.