Colliers International Completes a 5,612-Square-Feet Office Building Sale Totaling $3 Million in Los Angeles
Los Angeles, CA – August 31, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed the sale of an office building located at 1536 N. Highland Ave Los Angeles, Calif. The transaction is valued at $3,000,000.
Built in 1962, this is a single-story office building with a total of 13,000 square feet of land. It is located in the heart of Hollywood and is walking distance to Hollywood & Highland, Cinerama Dome, and the Metro stop.
Kathleen A. Silver, CCIM, Senior Vice President, and Kay Thorpe, Associate, both based in Colliers International’s West Los Angeles office represented the private Sellers, Mher & Sossy Tavidian of Vartan Tavidian. The Buyer, Musicians Institute, Inc. was represented by Ramsey-Shilling Commercial Real Estate Services, Inc.
“With very little product available of its kind, this was a unique, off-market opportunity successfully closed at the end of August,” said Silver. “To find a commercial building in prime Hollywood area with 18+ parking spots is rare, but we were able to successfully come to terms with Musicians Institute, Inc. who already currently resides on Highland Ave.”
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.
Since 1908, Colliers has stood at the forefront of the Los Angeles real estate industry. Today, Colliers operates seven offices throughout Greater Los Angeles, including Downtown Los Angeles, Orange County, Inland Empire, South Bay, San Fernando Valley, Santa Clarita and Commerce. Follow us at www.twitter.com/colliersgla.
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
angela.hwang (at) colliers (dot) com
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
