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Retail Property sold in Eagle Rock

LOS ANGELES, Feb. 3, 2015 /PRNewswire/ — Optimus Properties, LLC has completed the sale of 2127 to 2131 Colorado Blvd., in the heart of Eagle Rock, California for $2,813,000 to an undisclosed buyer.

The single story street front retail property consists of XTC Gym, Mathnasium and Cherry Media.  Optimus purchased the property on March 28, 2014 for $1,750,000  “We purchased this property because it is in the heart of Eagle Rock, on a signalized corner and is surrounded by great established and start up retail businesses,” says Kamyar Shabani, a principal of Optimus.

Immediately upon purchase, Optimus relocated XTC from two of the retail spaces to one, released the empty space to Mathnasium and improved the property with cosmetic improvements.  “We achieved our investment criteria earlier than expected so the natural progression for this deal was to sell it,” says K. Joseph Shabani, a principal of Optimus.

Optimus Properties, LLC, located in Los Angeles, California, was founded by K. Joseph Shabani and Kamyar Shabani and employs a disciplined investment approach focused on value creation in multifamily, office and retail properties throughout Los Angeles.

SOURCE Optimus Properties, LLC