10% Down SBA Financing
7,250 Square Foot Building
7,753 Square Feet of Land
Zoned LAC2 (Retail Stores)
Purchase Price of $1,750,000
Paley Commercial Real Estate has SOLD 6265 Van Nuys Boulevard. The commercial property is located in the heart of Van Nuys three blocks South of Victory Boulevard. The building is across the street from City Hall and the court house and has neighboring tenants such as Chase, UPS, US Bank, Western Union, and 7-11. With it’s fantastic signage, exposure, and mostly open floor plan, this building is suited to a variety of uses, whether it be retail or office.
After many years of consulting with Paley Real Estate, the Landlord decided to list the property “For Sale.” The property was marketed at top dollar and received tons of interest from buyers and local investors alike. Paley Commercial offers very attractive SBA Financing options with as little at 10% down with rates as low as 3.5% fixed for 25 years, which made the property attractive to many Owner-Users.
Due to the various marketing strategies Paley Commercial employed, from cold-calling buyers, to passing out flyers in the area, and cooperating with brokers, the Landlord received a multitude of offers. The Owners ended up accepting an offer from an Owner-User in the banquet hall business at nearly the listing price. The buyer was able to obtain a SBA loan with a ninety day escrow at the end of 2019.
At the time escrow was opened, the economy was as strong as it had ever been with no sign of any slowdown. This was reflected in the sky high price the Owner of 6265 Van Nuys received. By the time the escrow was due to close in March, the economy and the real estate market had shifted dramatically due to the COVID-19 pandemic. Many brokers ceased marketing their listings and deals fell out of escrow. Due to their 35 years of experience and expert negotiating skills, Paley Commercial was able to close escrow on 6265 Van Nuys mid March with no price reduction.
This sale is a prime example of why Paley Commercial Real Estate is continued to be regarded as one of the top brokerage firms in the San Fernando Valley. Despite the most challenging circumstances, Paley Commercial has the knowledge and tools to get every deal closed and get top dollar for the Seller. Due to the stay at home order caused by COVID-19, both Landlords and Tenants have been facing unprecedented hardships. Paley Real Estate remains available throughout the shutdown to provide support and advice for those struggling. Now is the time to seek the help of an expert. Reach out to Jon Paley and his team to get your property in order.