Sharp Line Commercial Partners Completes 1.27-Acre Land Sale for Medical Office Development in East Los Angeles
- Site is one of the last freeway visible development locations in L.A. County
- Buyer has proposed plans for a 61,752-sf medical office building
Los Angeles, Calif. October 17, 2018 – SharpLine Commercial Partners, a full-service boutique commercial real estate brokerage firm has completed the land sale of an approximately 1.27-acre site in east Los Angeles. Located at 3965 E. Olympic Blvd., the site is directly off the S. Ditman Avenue exit of the 5 freeway and is at a signalized intersection.
Barbara Armendariz, president with SharpLine Commercial Partners, represented the seller, a private owner. The buyer, Capital Insight, a West Hollywood-based developer, was self-represented. SharpLine Commercial Partners received more than a dozen offers on the site from interested developers.
“Capital Insight is pursuing the development of a 61,752-square-foot medical office building on the site as it sees the local market is under served for this product type and believes it is the highest and best use,” added Armendariz. “Things are still in the planning stages, however, we believe that the project would be ideal for urgent care, medical offices, pharmacy and/or a micro-hospital.”
With 260 feet of frontage on E. Olympic Blvd., the site one of the last developable vacant lots directly adjacent to a freeway on/off ramp in Los Angeles. The strategic location is just one-half mile away from the high industrial trade area of Commerce and two blocks west of the Los Angeles Community Hospital.
“The nearby Los Angeles Community Hospital is the only primary hospital in the local market, however, this is an area which is experiencing more demand for medical care and services from community residents,” said Cobby Pourtavosi President at Capital Insight. “We identified a need to bring a modern, state-of-the-art medical office building to better serve the healthcare needs of the surrounding community and believe this will also be a strategic and convenient compliment to the local hospital for both doctors and patients.”
SharpLine Commercial Partners is also handling the leasing for the medical office building which is anticipated for completion in fall of 2020.
About SharpLine Commercial Partners
SharpLine Commercial Partners is a full-service commercial real estate brokerage firm that executes transactions throughout the United States. SharpLine’s experienced professionals have built solid reputations for putting their clients’ needs first. This is done through creating effective, results-driven strategies aimed to save clients time and money in order to positively influence their bottom line and meet their investment goals. Sharplinecp.com
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