Fitzgerald Group’s Jarkesy Brokers Sale Of Sheridan Street Office Building

Aug 13, 2015 No Comments by

Joseph Jarkesy, Broker/Agent with The Fitzgerald Group negotiated the sale of 4600 Sheridan Street in Hollywood.

The 1977-built office asset, which totals 26,431 square feet, traded for $4,700,000, or about $178 per square foot.

Jarkesy represented the Seller, Sheridan Wells LLP, in the transaction. The Buyer, KEI Acquisitions, LLC, an entity managed by Kenneth Israel based on Golden Beach, Florida, represented itself.

 

“Our client followed our recommendations and we put them in position to take full advantage of a red hot office market in Hollywood. We increased our client’s occupancy rate from about 70% to 99%. When one of our larger tenants unexpectedly gave us notice that they would not be renewing (due to a merger/ consolidation), we found a replacement tenant 2 months ahead of schedule. The old tenant got out of the lease early, the new tenant got into the space on time, and the client never had a gap in rental income.”

 

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