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IREA
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IREA is pleased to announce the closing of three Single Tenant properties in Colorado Springs, Newport News, and Norcross.
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Just Closed | IREA Sets Price Per Square Foot Record for Non-Rent Controlled Multifamily in Reseda

At $313 per square foot, IREA’s Jonathan Krikorian, Clark Everitt, William Everitt, and David Leibowitz set a record for the highest price per square foot ever paid in Reseda for non-rent controlled multifamily with the closing of a pair of properties totalling 39 units. The properties, 18540 Wyandotte St and 7249 Baird Ave, both in Reseda, closed at $9,275,000 with a cap rate of 4.38% and a GRM of 13.75.

Clark Everitt, William Everitt, and Jonathan Krikorian are partners at IREA and represented the seller on the 27-unit property at Baird Ave. Filip Niculete, Vice President Investments, and Jonathan Erster, Senior Associate from Marcus & Millichap represented the seller on the 12-unit property at Wyandotte. The buyer for both properties was represented by IREA partner David Leibowitz.
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Just closed: Flight Ave. Apartments in Westchester, Los Angeles. Record Setting Sale at $513,000 per unit, and 17.59 GRM.
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Happy Holidays from IREA. May peace, prosperity, and happiness be yours throughout the holidays and new year.
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IREA is pleased to announce the sale of The Nordhoff Forty One, a 41-unit multifamily building at 14668 Nordhoff St in Panorama City. Closed at $9,730,000, the property on average offers larger units to tenants in a high density rental market.

“The buyer capitalized on purchasing a non-rent control asset (1990 built) comprised of predominately larger 2+2 units with some modernization already in-place. The buyer saw opportunity to improve upon what had been done and acquire a property in a growing sub-market of Los Angeles with increased rental demand for quality housing,” notes IREA associate Matt Sillaman.

Centrally located between the 405 and 170 FWY corridors, the property is strategically positioned. Additionally, the immediate location is adjacent to a major Valley intersection at Van Nuys Blvd and Nordhoff St.

IREA senior partner Chris Thompson, partner David Leibowitz, and associate Matt Sillaman represented the private buyer and seller.
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IREA is pleased to be listed as one of the top commercial brokerages in the San Fernando Valley, driven largely by IREA partner Yubin Tao who closed the $54.7 million Northridge Plaza Shopping Center and the $13 million Vallarta shopping center. For thoughts on multifamily market trends in the valley from partner David Leibowitz, read the full article at The Real Deal. http://ow.ly/eBhz30g7UMi
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More retail stores are opening than closing in 2017. Discount and convenience stores are opening in a big way. | http://ow.ly/B95m30f69QZ
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Congrats to IREA partners Clark Everitt, William Everitt, and Jonathan Krikorian on closing a top performing 7-11 for $3.25 mill.
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Congratulations to David Leibowitz, Clark Everitt and William Everitt, partners at IREA, on closing 1001 Melrose Ave for $20,000,000. The 63 unit complex is located in prime Glendale just north of the 134 freeway.
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Congratulations to Jonathan Krikorian, Clark Everitt and William Everitt, Partners at IREA, on closing Hayworth Ave Apts, at $600K per unit.
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