Former Fallas Paredes Building Sold!

Paley Commercial Real Estate brokered sale of the former Fallas Paredes Building in Canoga Park not far from Warner Center. The Big Box Retail space of 23,000 square feet on 59,000 square foot of land “SOLD” for $5,815,000.00 to a Buyer who plans on opening an Indian Grocery Store in addition to the one they have in downtown Los Angeles.  Multiple offers were procured during the marketing process before settling on the most qualified Buyer who closed escrow at a price the Seller was extremely pleased with.  Each and every property Paley Commercial Real Estate sells on behalf of our clients is always in “as is” condition which strictly implies that the Seller is not responsible for any repairs or deferred maintenance costs which avoids renegotiation once the transaction goes into escrow.  It is this kind knowledge and experience that separates Paley Commercial from the rest of the brokerage community. Jon Paley has specialized in selling San Fernando Valley Commercial Property for over 30 years, and is always available to provide Commercial Property Owners with a “free” property evaluation.