The “Brown Derby Building,” a retail-slash-restaurant building on Los Feliz Blvd. in Los Angeles, has sold for $9.25 million.
The 14,000 square foot building that at one point was owned by epic filmmaker Cecil B. DeMille was snapped up by CMC Asset Management LLC.
The building was sold by a group of investors that include Duncan Lemmon of Lee’s West LA, John Battle of LA North/Ventura Inc., and Mike Adler and Rick Gable of Adler Realty Investments.
The previous ownership group originally planned to build a mixed-use development. Those plans were scrapped after the building was named a historical monument. Read More