Mid City LA and West Adams Commercial Property Sales YTD 2019
Mid City LA and West Adams Commercial Property Sales YTD 2019
The Commercial Property for Sale in the Mid City LA and West Adams market of Central Los Angeles continues to rise steeply. The following summary report shows the year to date (YTD as 11/11/19) sales of office, retail, and commercial properties as reported by CoStar. These properties in Los Angeles 90016 represent the top 3 highest priced closed property sales for this year for each property category. Despite solid price increases in the past few years, the Mid-City LA market, sometimes referred to as West Adams, continues to show strong appreciation due to a variety of factors including overall market increase, trendy businesses opening, and migration from neighboring higher priced markets such as Culver City, Mar Vista, Playa Vista, Beverlywood and Mid City West.
CIM Group Inc. is developing projects in Mid City West Adams such as residential spaces and hotels. The Blackwelder Campus was purchased by Kilroy Realty for $185 Million and will be an adaptive reuse project targeting media and entertainment tenants. Finally, the massive Cumulus project at La Cienega and Jefferson continues to rise and grow into a mixed use extravaganza. Contact Jon Varsano for more info about West Adams Commercial Property and Investing in Mid City Los Angeles.
The median price per square foot is a highly effective method of comparing properties and markets. Industrial is $570.75. Retail is $432.13. Office is $1,161.67.
Retail Properties – West Adams Commercial Property Median Sales
- Price (For Sale): $1,589,000
- Price per sq ft (For Sale): $432.13
Top Retail Properties Sold – 2019 YTD (As of 11/19)
5427 W. Adams Blvd, Los Angeles CA 90016
- Building sq. ft.: 15,622
- Sale Price: $10,000,000
3063 Crenshaw Blvd, Los Angeles CA 90016
- Building sq. ft.: 240 (Chevron Gas Station)
- Sale Price: $4,930,000
3518 Crenshaw Blvd, Los Angeles CA 90016
- Building sq. ft.: 5,262
- Sale Price: $4,150,000
Industrial Properties – West Adams Commercial Property Median Sales
Price (For Sale): $3,425,000
Price per sq ft (For Sale): $570.75
Top Industrial Properties Sold – 2019 YTD (As of 11/19)
3318-3322 La Cienega Pl, Los Angeles CA 90016
- Bldg sq. ft.: 35,000
- Sale Price: $29,000,000
3233 S. La Cienega Blvd, Los Angeles CA 90016
- Bldg sq. ft.: 24,608
- Sale Price: $19,904,704
4301 Jefferson Blvd, Los Angeles CA 90016
Bldg sq. ft.: 15,500
Sale Price: $7,125,000
Office Buildings – West Adams Commercial Property Median Sales
- Price (For Sale): $6,296,470
- Price per sq ft (For Sale): $1,161.67
Top Office Buildings Sold -2019 YTD (As of 11/19)
3105- 3243 La Cienega Blvd, Los Angeles CA 90016 (Blackwelder Creative Campus)
- Bldg sq. ft.: 102,777
- Sale Price: $126,058,217
4216-4218 W. Jefferson Blvd, Los Angeles CA 90016
- Bldg sq. ft.: 11,400
- Sale Price: $7,250,000
5242 W. Adams Blvd, Los Angeles CA 90016
- Bldg sq. ft.: 16,512
- Sale Price: $6,700,000
