AT $5.3 MILLION, LOCATION OFFERS ‘VALUE APPRECIATION.’
Law Firm Buys Valley Village Office
Monday, October 12, 2020
Alder Law, a Los Angeles-based legal firm, has purchased the building at 12800 Riverside Drive for $5.3 million, or $266 per square foot, according to brokerage CBRE Group.
Built in 1985, the 17,300-square-foot, two-level building features private balconies, a central courtyard and 36 covered parking spaces.
The buyer specializes in personal injury, wrongful death, traffic accidents and premises liability cases.
CBRE’s Gerard Poutier, Mark Shaffer, Anthony DeLorenzo, Gary Stache, Doug Mack, Bryan Johnson and Matthew Heyn represented seller Los Angeles Oasis Church in the transaction.
“Given Los Angeles’ housing crunch and congested freeways, Valley Village’s centrality and proximity to employment centers, as well as its live-work-play offerings, will provide some of the most attractive value appreciation in the Greater Los Angeles area,” Poutier said in a statement. “With SBA financing at historical lows, the option of owning versus leasing is extremely compelling right now. It’s a great time to lock in occupancy costs with the benefit of long-term asset appreciation.”
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