LOS ANGELES – Optimus Properties, LLC, through an affiliate, has completed the sale of a two store front retail property on North Figueroa Blvd., in Highland Park, for $658 a foot. North Figueroa is Highland Park’s main artery.
Optimus extensively renovated the property. The property is currently leased to The Bearded Beagle, a clothing store specializing in recycled and vintage clothing (www.thebeardedbeagle.com) and Pantaleon, a trendy barber shop. The property featured tenant parking in the rear. The property was purchased by a private real estate company.
With compelling fundamentals in the Highland Park market and impressive appreciating property values, the property offers strong opportunity for the buyer interested in creating a footprint in a burgeoning and rapidly growing neighborhood market. Retailers and restaurants including Afters Ice Cream, Blind Barber, Otono, Hippo, Triple Beam Pizza, Pop Physique, Homestate, Kitchen Mouse and so many others are flocking to the area to be a part of Highland Park’s resurgence.
Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in office, retail, office and medical office properties throughout Los Angeles.
This is the first of several deals Optimus plans to sell this year. Optimus is also working on the acquisition of two office buildings, both of which will close in February 2019.