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Thursday, Mar 28, 2024

Sherman Oaks Office Building Trades for $11.6 Million

A 38,994-square-foot office building in Sherman Oaks has sold for $11.6 million, or $298 per square foot, according to an announcement by Lee & Associates-LA North/Ventura. The four-story, class A building at 12925 Riverside Drive features open ceilings with exposed HVAC, expansive window lines with tree top views from the upper floors, spacious break room, contemporary lighting and ample garage and surface parking. Stacy Vierheilig-Fraser, a principal with Lee & Associates-LA North/Ventura, represented the seller, RDP Investments, with Scott Gertz at Coldwell Banker Commercial WESTMAC. Michael Shuken of Savills Studley represented the buyer, which CoStar Group identifies as Post Group Production Suites, a firm which specializes in providing film and audio editing suites. “This property had been very nicely renovated by the seller, and, along with the prime Sherman Oaks location, was very attractive for a number of different office users,” Vierheilig-Fraser said in a statement.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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