LOS ANGELES, April 23, 2019 /PRNewswire/ -- An affiliate of Optimus Properties, LLC has completed the acquisition of an approximately 35,500 square foot office building located in Winnetka. The Victorian style building, located at 19717-19725 Sherman Way, is between Corbin and Quartz Ave, just outside the City of Reseda. The building consists of three floors, a subterranean parking lot as well as a lot behind the building.
"We have been searching for property in the San Fernando Valley for a long time, and we are very excited to purchase this uniquely designed office building and get a foothold in the area," said Joseph Shabani, a principal of Optimus Properties, LLC.
The building was built in 1982 and renovated in 2013 & 2014. No significant renovations are required, and Optimus intends to repair deferred maintenance items and lease up the vacant units.
"The Property's unique design is desirable to office tenants in the area, and the high percentage of historical occupancy in the building and immediate cashflow the building provides were the primary determinants in our purchase decision," said Kamyar Shabani, a principal of Optimus Properties, LLC.
Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in office, retail, office and medical office properties throughout Los Angeles.
SOURCE Optimus Properties, LLC