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Commercial leases offered at recently sold office building

A private real estate brokerage recently arranged a major property sale not far from Los Angeles. An office building ended up being sold for more than a whopping $143 million in Beverly Hills. This was the biggest commercial deal in the area during the last part of 2017 and offers commercial leases.

The office building was erected back in 1971. It stands 12 stories high and sits on nearly an acre close to Beverly Drive and Rodeo Drive. The commercial real estate property is currently 98 percent leased.

The buyer of the property seized the chance to buy this office asset, as these types of assets are rarely available in the area. The area where it is located features several hotels, restaurants and retailers that sell high-end items. The real estate assets in the area, known as the golden triangle, are known for offering value to investors long term. The buyer of the office asset plans to complete some renovations at the property, which will help with maximizing the income it produces and further solidifying its long-term value.

Claiming commercial leases in highly desirable areas are the dreams of many business owners. However, not all leases are equal. Failure to read through a lease or negotiate one effectively before signing it can have negative consequences financially for a business owner. Fortunately, an attorney in Los Angeles can help with reviewing and negotiating a lease to ensure that the business owner's rights are not violated and that the terms of the lease are personally favorable in the months and years ahead.

Source: bisnow.com, "Madison Partners Arranges $143.6M Sale Of Office Building In Beverly Hills", Joseph Pimentel, Jan. 2, 2018

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