A mixed-use retail and office center in North Hollywood has changed hands for $7 million, according to Calabasas commercial real estate brokerage Marcus & Millichap Inc.
A limited liability entity known as Elijah 27 bought the four buildings on seven properties at 11305 to 11335 Magnolia Blvd. and 5215 Bakman Ave., a total of 20,100 square feet. A family trust sold the property, according to Marcus & Millichap.
Marcus & Millichap vice presidents of investments, Martin Agnew and Jessica Kelley, and Ryan Rothstein-Serling, an associate, represented the buyer in the deal, who bought the center as a tax exchange after selling another property.
Scott McCauley of Corporate Realty Services arranged the deal on behalf of the family trust, according to Marcus & Millichap.