Here are LA County’s top 5 commercial sales of May

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Here are LA County’s top 5 commercial sales of May

June 19, 2019 

An 80-year-old Venice post office that was to be transformed into Joel Silver’s production headquarters has new owners who would rather convert it into an office.

At $22 million, the property was Los Angeles County’s top commercial sale of May, records show. Combined, investors spent $94.2 million on the five priciest deals, far higher than the $45.8 million spent in April.

The top five deals — they include two fitness centers — are spread from Venice to Downtown L.A. Two of the properties are located in federally designated Opportunity Zones, which provide tax incentives to long-term investors.

The Real Deal compiled its list based off property records on PropertyShark.

 

1530 W. West Covina Parkway — Ya Yung Yeh and Cheng Tsung Yeh | $20.7 million

Capital Square 1031, which specializes in 1031 exchanges, sold a West Covina property that is fully leased by a 24 Hour Fitness. The building at 1530 West Covina Parkway spans 37,500 square feet. Two individuals, Ya Yung Yeh and Cheng Tsung Yeh, purchased the property for $20.7 million.

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