December 5, 2018 – A fully renovated industrial building in the North Hollywood, Calif. submarket of Los Angeles has traded to a private investor for $3,250,000 or $413 per square foot, one of the highest per-square-foot prices recorded to date in the region, according to Lee & Associates-LA North/Ventura’s Clay Stevens, who represented the seller with Lee Principal Randy Kobata.
The 7,865-square-foot, free-standing building, located at 7359 Fulton Ave. in North Hollywood, received a $600,000 makeover before it was listed by the seller, NoHo Partners, LLC.
“The property underwent an extensive renovation with high-end, stone and wood finishes that made it attractive for many uses including retail, creative office, post production and recording sound studios as well as industrial,” said Stevens. “The upgrades, along with the location, helped to attract multiple offers and achieve what we believe to be the highest per square foot price in the region.”
The property is fully gated, giving it privacy and security. It is located in a state enterprise zone less than a mile from the Hollywood (170) Freeway.