Lee & Associates Negotiates Two LA Transactions Totaling $21 million

LOS ANGELES - March 2, 2015 - PRLog -- LOS ANGELES—March 2, 2015— The Berenzweig Trust has sold its Downtown Los Angeles property occupied by its privately held business, ACME DISPLAY, and purchased a replacement property for a combined transaction value of $21 million. The purchase of the former headquarters for UNI Hosiery Company at 3829 South Broadway closed for a sale price of $9.5 million. The first transaction, involving a one-half acre development site located at 1045-1057 South Olive Street in Los Angeles, sold for $11.5 million.

         Anita Artukovich of Lee & Associates Central Los Angeles, represented the Berenzweig Trust in both transactions.  Ms. Artukovich also represented Crescent Heights, the Buyer of 1045-1057 South Olive Street.

         “Acme Display is a wholesale distributor of showroom packaging materials, displays and fixtures.  Its headquarters are located at the NWC of Olive & 11th, yet their main distribution occurs from a 58,560 SF distribution warehouse in Duarte.  The sale of their Downtown headquarters and acquisition of 3829 South Broadway enables Acme Display to consolidate all of its Southern California operations into one facility and remain in the heart of the thriving Downtown fashion markets,” said Ms. Artukovich. “The Broadway building has three-street frontage, and was recently refurbished.  It is centrally located between the LA Mart, USC, Staples Center and LA Live.”

         The $11.5 million sale of the South Olive Street property was sold to South Florida residential developer Crescent Heights.  “This is a key corner location in the heart of South Park and a few blocks from the L.A. Live entertainment complex, Staples Center and the LA Convention Center,” said Ms. Artukovich.

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