Becker & Poliakoff Building In Hollywood Trades For $8M
Calkain Companies recently arranged the sale of a 52,000+/- square foot, net rentable two-story office building located at 3111 Stirling Road in Hollywood for $8,250,000.
Lee Brushingham, Director at Calkain Companies, represented the seller in the transaction.
The building was originally constructed by the founding member and managing partner, Gary Poliakoff, Esq., who rose to fame leading the law firm Becker & Poliakoff. The property had been occupied by Becker and Poliakoff since its completion in 1988. The firm vacated the building January 31, 2014 resulting in a vacant asset. Although ownership considered re-leasing the building, several potential purchasers emerged with sincere interest in acquisition.
Brushingham commented, “The asset was looked upon favorably by the owner-user market because of its location and the level of construction detail that was employed by Mr. Poliakoff, including subsurface pilings, slab-to-slab walls throughout, new roof, fully upgraded chiller system, and even an elevator room that was separated from the main building to ensure noiseless elevator operation.”
Other factors noted by Brushingham included fully approved plans for the addition of a third floor, ample parking and a great lakeside office park setting.
The buyer, Memorial Health Care Systems, was in the market for a suitable administrative headquarters in which to consolidate a number of divisions. Bob Banks of RW Banks Real Estate represented Memorial Health Care in the transaction. “This will be a great home for Memorial’s administrative staff for many years to come,” said Brushingham.
