{"id":1004313623,"date":"2019-04-02T22:53:31","date_gmt":"2019-04-03T06:53:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004313623"},"modified":"2025-02-28T00:03:10","modified_gmt":"2025-02-28T08:03:10","slug":"la-area-office-building-changes-hands-for-12m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-area-office-building-changes-hands-for-12m\/","title":{"rendered":"LA-Area Office Building Changes Hands for $12M"},"content":{"rendered":"
\"\"<\/a>

12925 Riverside Drive. Image courtesy of Yardi Matrix<\/em><\/p><\/div>\n

Lee & Associates Principal Stacy Vierheilig-Fraser and WESTMAC Executive Vice President Scott L. Gertz have closed the $11.6 million sale of an office building in Sherman Oaks, Calif. According to Yardi Matrix, the seller was Chapnick, Smukler & Associates.<\/p>\n

Savills Corporate Managing Director Michael Shuken represented the buyer, a 1031 exchange private investor. Altura Credit Union provided $7.5 million in acquisition financing set to mature in April 2029, public records show.<\/p>\n

Situated at 12925 Riverside Drive, the 38,994-square-foot building features open ceilings with exposed HVAC, a break room and covered parking. The four-story asset was built in 1986 and underwent cosmetic renovations in 2011, per Yardi Matrix information. Adjacent to Ventura Freeway and less than 15 miles from downtown Los Angeles, the building is in a dense residential area.   <\/p>\n

In February, another Lee & Associates team facilitated the $68 million sale of a 261,528-square-foot industrial facility<\/a> in downtown Los Angeles. The firm represented both parties in the deal.<\/p>\n

If you\u2019d like to be featured in Brokers\u2019 Corner, send your deal to deals@cpe-mhn.com<\/strong><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The buyer worked with Michael Shuken of Savills, while Stacy Vierheilig-Fraser of Lee & Associates and Scott L. Gertz of WESTMAC represented the seller. <\/p>\n","protected":false},"author":748,"featured_media":1004313626,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21742,21747,15],"tags":[33536,32762],"class_list":["post-1004313623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-latest","category-office","category-west","tag-1031-exchange","tag-lee-associates"],"acf":[],"yoast_head":"\nLA-Area Office Building Changes Hands for $12M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/la-area-office-building-changes-hands-for-12m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LA-Area Office Building Changes Hands for $12M\" \/>\n<meta property=\"og:description\" content=\"The buyer worked with Michael Shuken of Savills, while Stacy Vierheilig-Fraser of Lee & Associates and Scott L. 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