Lee & Associates-LA North/Ventura Transacts Office Sale for $11.6 Million

Property located in prime Sherman Oaks submarket of Los Angeles

SHERMAN OAKS, CA – April 1, 2019 – A 38,994-square-foot office building at 12925 Riverside Drive in the Sherman Oaks submarket of Los Angeles has traded for $11,605,000 or $298 per square foot, according to Stacy Vierheilig-Fraser who represented the seller, RDP Investments, LLC, with Scott L. Gertz at Coldwell Banker Commercial WESTMAC.

Michael Shuken of Savills Studley represented the buyer, a private investor.

“This property had been very nicely renovated by the seller, and, along with the prime Sherman Oaks location, was very attractive for a number of different office users,” Vierheilig said.

The four-story, Class A building features open ceilings with exposed HVAC, expansive window lines with tree top views from the upper floors, a spacious break room, contemporary lighting and ample garage and surface parking.