Brian Bak Purchases Retail Property In Van Nuys For $3.35 Million With David Nalbandyan As Buyer's Rep

The property asset involved in this transaction is a retail space located at 6000 Woodman Avenue in the Van Nuys market. The sale price for this asset was $3,350,000, encompassing a total square footage of 7,973, resulting in a price per square foot of $420.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,350,000
• Square Footage: 7,973
• Price per Square Foot: $420
• Buyer: Brian Bak
• Seller: Paru Ahkverdan
• Buyer's Representative: David Nalbandyan - LA Premier Group
• Seller's Representatives: Matthew Luchs & Jacob De La Hoya - Zacuto Group
• Cap Rate: Sub 6%

This transaction involved multiple offers after the seller had previously listed the property with two other brokers who could not execute the sale. The deal notably overcame challenges such as a fire during escrow and insurance issues, all without any price renegotiation.