LOS ANGELES-ST Residential has sold 41,000 square feet of retail and office space on the ground floor in Solair, a 22-story, 186-unit luxury mixed-use condo complex in Koreatown. A private Los Angeles real estate owner purchased the space for an undisclosed amount.

“This iconic steel and glass structure is a true urban, infill investment property which garnered multiple competitive bids,” says CBRE senior associate Ben Cherney, who represented the seller in the transaction along with CBRE SVP Dan Riley and first VP Mark Hong. “In the end, the ultimate buyer distinguished themselves by offering a sizable non-refundable deposit upon the opening of escrow.”

Located at 3875 Wilshire Blvd., Solair is currently 44.5% leased. The 41,000 square feet purchased is located on the corner of Wilshire Boulevard and Western Avenue. Cherney believes that the prime location, in one of the nation's most densely populated areas, will “command strong tenant interest and strong rental rates.”