West Hollywood retail commands big price

An unidentified private investor paid $13.9 million for a three-building retail portfolio in West Hollywood, Calif.

The property, located at 624-630 N. La Cienega Blvd., includes 9,270 square feet and was purchased for the land value.

Nolaci Investments sold the portfolio, which at the time of sale was occupied by Train West Hollywood, a private gym with more than 100 personal trainers offering one-on-one private training.

"The buildings are located in a hot retail area between Melrose Avenue and Melrose Place on La Cienega Boulevard," said Jonathan Ahron, a broker at Charles Dunn Co., which handled the deal.

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