Guggenheim Real Estate And L3 Capital Acquire Melrose Blvd. Retail Property In Los Angeles For $22.9M

The property at 8420-8430 Melrose Blvd. in Los Angeles has been sold. The retail asset, located in the West Hollywood market, was sold for a price of $22,900,000. The property spans 11,300 square feet, resulting in a price per square foot of $2,026. The transaction took place on 04/10/2018.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $22,900,000
• Address: 8420-8430 Melrose Blvd.
• City: Los Angeles
• Market: West Hollywood
• Square Footage: 11,300
• Price per Square Foot: $2,026

American Commercial Equities was the seller in this transaction, while Guggenheim Real Estate and L3 Capital, represented by Domenic Lanni, acted as the buyers. The deal was facilitated by Commercial Asset Group and Cushwake, who served as the brokers.

The fully-leased single-story building on Melrose Blvd. is home to three luxury retailers, including apparel shops and a home décor company called Serena & Lily. The property provides a prime location for these high-end retailers in the bustling city of Los Angeles.