Matthews™ Completes $9M Sale of Woodland Hills Retail Property

Los Angeles, CA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of 5780 Canoga Avenue, Woodland Hills, CA, a retail property that included tenants such as Baja Fresh, Salad Farm, The Stand, etc. The off-market deal closed at $9,000,000 and was handled by Associate Kyle Pari and First Vice President and National Director Michael Pakravan.

 

Matthews™ represented both the buyer and seller in the transaction. The buyer, California-based Bolour Associates, satisfied a 1031 Exchange and received a value-add opportunity with the purchase. The seller, California-based Flamingo Investments, sold the investment at a high price point and achieved a low cap rate.

 

“The Woodland Hills area is growing at a rapid rate, increasing investor demand and driving prices,” Pari said. “We achieved a competitive price for the seller and the buyer acquired a retail property in a growing submarket with the potential for high yields.”

 

Woodland Hills is a thriving submarket of Los Angeles, positioned in the San Fernando Valley region. The area is experiencing an influx of development and transaction activity, most recently with the $150M sale of The Promenade mall.

 

“Using our proprietary database, we were able to source this deal off-market and execute successful 1031 Exchange for both clients in the required timeframe, accomplishing their investment goals,” Pakravan said.

 

For more information on this closing or to contact Kyle Pari and Michael Pakravan, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.