LOS ANGELES, CA – Scott Martin with NAI Capital’s Pasadena office represented the Seller, Balian Ice Cream Company, in the sale of 28,071 SF industrial property located at 2930 E. Olympic to the Buyer, JBD Investments.  The value of the sales transaction was over $2M.

“This property, which was on the market for 2 years, had many challenges from the initial negotiation and sale to the unwinding of some title issues but with leveraged approach, local SIOR knowledge and NAI Global outreach, the marketing exposure led us to a local purchaser.  The sales was emotionally packed because my client had owned and operated the Balian Ice Cream Company since 1947 and combined with the age of the facility and specialty equipment involved, made the closure of the sale rewarding,” said Martin.

The property is comprised of five buildings on three parcels with one building containing a 4,800 SF freezer in a 20’ high bay building.  At the time of the sale, the factory had been out of business for three years and all of the structures were in fair condition.  The property has gated parking and a sawtooth ceiling with high clearance.  The Buyer is going to use the 11th street buildings and lease out the Olympic frontage buildings.

The property, located in East Los Angeles, is in a State Designate Enterprising Zone which means the Buyer is exempt from certain taxes and are given other economic advantages as an inducement to locate there and employ residents.  The property is accessible to both the Interstate 10 and Interstate 5 Freeways just 10 minutes outside of Downtown Los Angeles.

About NAI Capital

NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com NAI Capital Brokerage DRE #00806840

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