Mark Bolour & Kevin Saghian Acquire Retail Properties In Los Angeles For $6.04M

The transaction involves a retail asset located at 601, 611 & 619 South Fairfax Avenue, Los Angeles, with a sale price of $6,040,000. The property spans a total area of 11,500 square feet, equating to a price per square foot of $525.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,040,000
• Square Footage: 11,500
• Price Per Square Foot: $525
• Buyer: Mark Bolour & Kevin Saghian - Bolour Associates
• Seller: 99 Cents Only Stores
• Seller's Representative: Steve Madura, Joel Schneider & Michael Kneifel - Hilco Real Estate
• Date of Transaction: 6/27/2024

This acquisition aligns with Bolour Associates' strategy for urban redevelopment in Los Angeles, aiming to transform the properties into commercial uses that reflect the area's creative character while accommodating the demand from nearby institutions such as the Los Angeles County Museum of Art. The site holds potential for future multifamily development.