Sherman Oaks, CA, November 27, 2018 --(PR.com
)-- A rare “gem” office building amid a sea of high-rise buildings in the heart of the Ventura Boulevard corridor in Sherman Oaks has been sold for $2.7 mil or $1,342/sf announces Capital Realty Solutions, Inc.
Familiar as the “Wallace Literary” and named after renowned Hollywood writer/director/producer Randall Wallace (“Braveheart,” “We Were Soldiers,” “Secretariat,” “Pearl Harbor”), the 2012 square foot boutique office building is located at 15464 Ventura Blvd. The property is adjacent to the Sherman Oaks Galleria.
Ash Joshi, principal of Encino-based Capital Realty Solutions, represented Randall Wallace, trustee of the Randall Wallace Family Trust, the property owner, in the sale transaction. The property was in turnkey condition, which was an attractive feature for the buyer who will be the new occupant. Joshi had also represented the seller over the years in previous tenancies at this location.
“This is truly a rare offering which garnered a lot of interest. The asset featured excellent real estate fundamentals, so important to commercial properties - high traffic location, terrific visibility and immediate access to major freeways. This building sets itself apart from the competition with good quality buildout and custom finishes,” Joshi said.
“We achieved a record price per sf in the Sherman Oaks office market and were able to do so because of the quality of the building and its superior location,” notes Joshi.
The Ventura Blvd. office building features such desirable build outs as private offices, reception library and kitchen facilities, Joshi said. Ample on-site private parking is provided.
About Capital Realty Solutions
Capital Realty Solutions, Inc. is a full service commercial real estate brokerage company working throughout Southern California. The company is distinguished in its focus on sales and leases to both investors and owner/users in the industrial, retail and office sectors.