LOS ANGELES, CA – The CIM Group announced the sale of a five-story residential building with 153 residential units and approximately 15,000 square feet of retail space on the ground floor and 308 underground parking spaces in West Los Angeles.
The recently completed building is centrally located on 1500 S. Granville Avenue on the south side of Santa Monica Boulevard, an active corridor with public transportation, shops and restaurants.
The building has a contemporary architectural design and offers a mix of studio, one-bedroom, two-bedroom, and living-office floor plans, with 16 units set aside as affordable. Residents have a variety of indoor and outdoor meeting rooms for collaboration, relaxation, and socializing, which are among the most sought-after property amenities.
Earlier this year, the CIM Group sold the adjoining Elevate residential complex with 147 residential units, which was completed in the summer of 2019, with a retail space of around 39,000 square meters on the ground floor, which CIM has rented to retailers in the community, including Target, Health Spot Pet Store and ACT fitness studio. In addition, the Westgate Collection, three four-story buildings with a total of 37 residential buildings on plots south of Elevate, which were completed in 2017, was also included in the sale
For more than 25 years, CIM Group has leveraged its vast expertise to own, develop, reposition and operate real estate, transform communities and create dynamic environments across Los Angeles and America.
Source: CIM group