Beverly Boulevard deal.Local real estate investment group Beverly Flores Flores, town, Guatemala Flores (flōrəs), town (1990 est. pop. 2,200), capital of Petén department, N Guatemala. Flores was built on an island in the southern part of Lake Petén Itzá and on the site of the Equities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has paid $6.8 million for a Beverly Boulevard Beverly Boulevard is one of the main east-west thoroughfares in Los Angeles. It begins off of Santa Monica Boulevard in the Beverly Hills and West Hollywood border and ends on Lucas Avenue near Downtown Los Angeles. office building its managing member sold nine years ago for $2.1 million. Seller Gazel Partners, a French television company, has used the property as a production office for the past nine years. The real estate firm, which is led by managing member Jack Ravan, plans a remodel re·mod·el tr.v. re·mod·eled also re·mod·elled, re·mod·el·ing also re·mod·el·ling, re·mod·els also re·mod·els To make over in structure or style; reconstruct. and exterior renovation of the office building. The project would include adding ground floor retail to the 17,500-square-foot building. The deal for the four-story building at 8322 Beverly Blvd. breaks down to about $389 per square foot. It closed July 31. The property at Beverly Boulevard and Flores Street lacks entitlements for retail development. The new owners plan about 1,200 square feet of retail space. Ravan, a local real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. , owns a recently opened four-unit loft property next door to the office building. "We really believe in taking a block and revitalizing it to create a better environment and that is happening at Beverly and Flores," said Ravan, who is also president of commercial real estate firm South Park Group Inc. "What we'd like to do is complete the block by giving (the building) a high-tech skin with milky glass and stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. ." The remodel of the property is slated to begin in November and the renovations could be completed by early 2008, said Steve Ravan, assistant vice president at South Park Group, who represented Beverly Flores Equities in the deal and is the nephew of Jack Ravan. Sep Melamed, president of Prime Properties Real Estate Services, represented the seller. Staff reporter Daniel Miller can be reached at dmiller@labusinessjournal.com or (323) 549-5225, ext. 263. |
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