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Creative Office Provides Buyer with Durable Long-Term Cash Flow

The West Adams area of Los Angeles has benefited from the expansion of the Expo line, the ongoing development in the West Jefferson corridor, and the strength of the neighboring Culver City market. An asset in close proximity to the neighborhood, 3317-3325 Exposition Place, an adaptive reuse and creative office building fully leased to The RealReal Inc., recently sold for $22.79 million. The buyer was The Luzzato Company Inc.

Newmark’s Kevin Shannon, Sean Fulp, Ken White, Rob Hannan, Laura Stumm, Chris Beck, Larry Wass and Ryan Plummer represented the seller, Lion Real Estate Group LLC.

“This asset, located in the heart of LA’s highly desirable and supply-constrained creative office market, provides the buyer with durable long-term cash flow,” said Fulp. “The West Adams neighborhood has recently been spurred by an influx of development and high-ticket leases. We have seen institutional and private investors heavily investing into the area as Fortune 100 companies expand east into West Adams from the Haden Tract in Culver City.”

Located in the Expo Place Corridor and next to the West Adams neighborhood, the two-story brick building totals 29,680 square feet and was renovated in 2018. The open creative office and flex space is located adjacent to an LA Metro line.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition
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