Barak Investors Group Acquires Banning & LA Retail Package Deal For $6.7M

Barak Investors Group has acquired a retail package deal consisting of two properties. The first property, located at 2971 W Ramsey Street in Banning, spans 9,000 square feet and was sold for $2.425 million. The second property, situated at 1125 E. El Segundo Blvd in LA, offers 11,904 square feet of retail space and was purchased for $4.275 million. The combined transaction amounts to $6.7 million for a total of 20,904 square feet, resulting in an average price per square foot of $320.

Summary of transation details

• Property Type: Retail - Package Deal
• Transaction Amount: $6,700,000
• Address: 2971 W Ramsey Street ($2.425M - 9,000 SF) & 1125 E. El Segundo Blvd ($4.275M - 11,904 SF)
• Market: Banning & LA

The deal was facilitated by the following brokers: Armin Soleimani of Global Platinum Properties, David Maghen, and Peyman Zargari of MIP Investment Corp. Armin Soleimani, representing Global Platinum Properties, played a key role in assisting the buyer, Barak Investors Group, in this transaction. David Maghen and Peyman Zargari, both from MIP Investment Corp, also contributed to the successful completion of the deal.