Calabasas Firm Brokers Sale of DTLA Properties

Marcus & Millichap has arranged the sale of an assemblage of buildings and land parcels in the downtown Los Angeles industrial district for $38.4 million. The Calabasas commercial real estate broker represented the unnamed seller of eight industrial buildings and two parcels totaling 4.6 acres. Mike Malick, vice president investments, and associate Carol Song handled the deal. The unnamed buyer was represented by Quantum Associates in Los Angeles. “One of the largest clusters of prime redevelopment sites in downtown Los Angeles, the 10th Street Portfolio has extraordinary potential,” Malick said in a prepared statement. The eight industrial buildings with short-term leases and below-market rents are located along Olympic Boulevard, 10th Street, and 11thStreet. The area is adjacent to the fashion district. Shares closed down 34 cents, or more than 1 percent, to $25.20 on the New York Stock Exchange.