Los Angeles, Calif. (December 10, 2021) – Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, Ltd., has completed the sale of 10622 Pico Blvd. in Los Angeles, located at the corner of Pico and Manning Ave. The $3,312,500 sale of the former F&S Fabrics location was brokered on behalf of a private seller by Jordan Rubinstein, Vice President at Kennedy Wilson Brokerage.
Located in the Pico Corridor of West Los Angeles, the well-known 4,728 square-foot property generated considerable interest from potential buyers due to its single identity branding potential and hard corner location at a signalized intersection along the heavily trafficked east-west commuter route. The buyer is an owner-user.
“This sale is representative of a trend in the submarket where a significant transition in ownership for generational assets is underway,” said Jordan Rubinstein. “With the robust pace of redevelopment in the area, 10622 Pico offers the new owner an exceptional location to operate his business in the short-term with the potential for repositioning or redeveloping in the future.”
In the heart of West Los Angeles’ Rancho Park community just minutes from Beverly Hills, Century City and Westwood, the property is close to Westside Pavilion, the former shopping mall that will soon be Google’s new 600,000 square-foot L.A. headquarters. Rubinstein cited that project as a central value driver for the area. Other notable redevelopment activity on Pico includes GPI Companies’ adaptive reuse of a former Macy’s to creative offices and Carmel Partners’ Linea multifamily project which was completed in 2019.
About Kennedy Wilson Brokerage
Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, Ltd., is a leader in the leasing and sale of commercial real estate, representing institutional and private capital investors and tenants across the United States. Our capabilities include investment sales and acquisitions, agency leasing, tenant representation, corporate services, valuation and advisory services.