Office Depot Building sells for $9.2 Million in La Crescenta, Los Angeles County
EL SEGUNDO, CA Nov. 17, 2023 – DPI Retail announced today the successful closure of the $9.2 million sale of an Office Depot-leased retail property situated in La Crescenta, Los Angeles County, California.
Representing an undisclosed Buyer, Michael Asarch of Pegasus Investments Real Estate Advisory, Inc. in Los Angeles, California, facilitated the transaction, boosting comparable values within this commercial real estate sector for investors.
The property, constructed in 1999, spans nearly 26,000 square feet and enjoys a prime location at 3030 Foothill Blvd, positioned at the southwest corner of Foothill Boulevard and Ramsdell Avenue in La Crescenta, California. With robust frontage on Foothill Boulevard, a heavily trafficked thoroughfare connecting Glendale, Montrose, and La Cañada, the property represents a strategic investment opportunity poised for long-term success. Strong visibility at a signalized corner within a bustling retail corridor, the building shares its neighborhood with prominent national tenants like Chase Bank, Walgreens, and Ace Hardware.
Nestled in the picturesque La Crescenta-Montrose area of unincorporated Los Angeles County, its proximity to major freeways such as Interstate 210, CA 2, Interstate 5, and CA 134, as well as bus routes and transportation hubs, enhances its accessibility and appeal.
About DPI Retail
DPI Retail (and its subsidiary companies) is a multi-faceted real estate investment company with expertise in management, development and redevelopment, finance, and leasing. The firm’s focus is to manage, develop and/or renovate shopping centers to institutional quality standards to benefit the company, its tenants, and the communities it serves.
For media inquiries, please contact:
Jonathan Khoury
Vice President, Real Estate
DPI Retail
310-360-3663
[email protected]
www.DPIRetail.com