ESI Enterprises Acquires Retail Property In DTLA For $4.5M

ESI Enterprises, Inc. has acquired a retail property located at 729 S. Los Angeles St. in Downtown Los Angeles for a price of $4,500,000. The property spans 10,350 square feet, resulting in a price per square foot of $434.78. The transaction involved the sale of three units, with each unit being valued at $1,500,000.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $4,500,000
• Square Footage: 10,350
• Price Per Square Foot: $434.78
• Number of Units: 3
• Price Per Unit: $1,500,000

The seller in this transaction was the Amado Trust, while the buyer was ESI Enterprises, Inc. The deal was facilitated by brokers Jay Martinez and Darin Spillman.

ESI Ventures, the buyer, has been assembling adjacent parcels in Downtown Los Angeles. The acquisition of this property allows them to continue expanding their portfolio. Additionally, the Adapt Reuse DTLA Program is already underway for the adjacent Norton Building and Deardens, indicating a trend of repositioning properties in the area. Exciting new exclusive listings in the Regent Building and Canadian Building in DTLA are also expected to be announced soon.