LA Business Journal caught up with Partners Trust Commercial Associate Dario Svidler to discuss a sale in Inglewood that approached a record price-per-square-foot in the history of commercial space in the neighborhood.
The building at 730 Centinela Ave., which had housed a car parts manufacturer for over 40 years, sold for $1.95 million. Dario received nine offers for the property in just two weeks, which is highly reflective of the demand for this type of commercial real estate in this central locale. As Svidler shared with LA Business Journal, “The demand from the artist community, the creative community, was extremely strong.” And demand overall is getting stronger.
Increased interest in Inglewood is largely due to proximity—less than a dozen miles from bustling commerce hubs like El Segundo and the entrepreneurial core of L.A.’s Westside dubbed “Silicon Valley”—but more reasonably priced. Demand is also apparently rising in advance of major attractions that are, soon-to-be, moments away, like the stadium that will house the Los Angeles Rams and the 238-acre Hollywood Park development where Hollywood Park Casino once stood.
The Partners Trust Commercial team is a strong collaborative force, working closely with clients in this burgeoning area, and across Los Angeles, to build and fulfill strategic investment plans. The team, including Svidler, Lee Mintz, Daniel Sanchez, Zachary Krasman, Seth Bernstein, Tim Brynes, Maggie Kennedy, Jason Rahimian, Shaya Braverman and Morgan McMullin, the most recent addition, has grossed $57,200,000 in sales year-to-date.