Lee & Associates-LA North/Ventura Executes Sale of Sherman Oaks Retail Building

Fully occupied building trades at 3.5 percent capitalization rate

SHERMAN OAKS, CA – July 20, 2018 – A 3,980-square-foot multi-tenant retail building at 4325-4329 Woodman Ave. in the Sherman Oaks submarket of Los Angeles has sold for $2,550,0000 or $641 per square foot, according to Cole Martens and Cory Stehr at Lee & Associates-LA North/Ventura.

Martens and Stehr, principals at Lee’s Sherman Oaks office, represented the seller of the property, Hadle2, LLC.

“Our client had invested in renovations to the property, and it was fully occupied,” Martens said. “The property also included a billboard which generates additional income, so all in all, we were able to trade it at a 3.5 percent cap rate.”

The property is situated just north of the intersection of Ventura Boulevard and Woodman Ave., a major signalized corner of Sherman Oaks. Tenants at the property include Jerusalem Sandals, Art Loris Salon and Orchid Republic.

The transaction is one of several sales Martens and Stehr executed in the Sherman Oaks submarket within the past 12-18 months. They sold a 12,438-square-foot land parcel on Moorpark Street, an eight-unit multifamily property on Burbank Boulevard and a neighborhood retail center at 13307 Moorpark St.