A two-story building, which is the current location of the Petco-owned Pooch Hotel, has been sold for $11.1 million in a 1031 exchange, it was announced on May 30.
Located at 2250 Barrington Avenue in Los Angeles, the 18,000 square-foot building was purchased by Kanin Family Trust. The seller was 1240 Palmetto LLC.
Mollie Shea Dietsch of the Commerce office of Lee & Associates, represented the buyer, who plans to operate the two-story building as a leased investment.
“Westside property of all types are in high demand,” said Dietsch. “With this demand comes the increase of values on both the sale and leasing of side.”