Los Angeles — Crenshaw Square, built in 1959 and long a community landmark in Los Angeles, has sold for $5.9 million. The mixed-use building totals 58,792-square-foot of retail and office space on an 83,662-square-foot lot.
David Ridgway from the Los Angeles Downtown office of Marcus & Millichap represented both the seller and the buyer. The sellers were the heirs to the original owners; the buyer is a private investor with roots in the local community. The new owner will begin a substantial rehabilitation of the property.