Melrose Avenue Property Sells for $22.9 million.

8420-8430 Melrose Ave.

A retail property on Melrose Avenue that houses Dash, an apparel and accessory shop owned by the Kardashian sisters, as well as Theory and Serena & Lily, was been purchased for $22.9 million.

The purchase, first reported by L.A. Business Journal, was by Guggenheim Real Estate and L3 Capital, a Chicago- investment firm. The 11,300-square-foot property, located at 8420-8430 Melrose Ave., was sold by American Commercial Equities of Malibu.

David Ickovics of Commercial Asset Group, who represented American Commercial Equities, said the property “was attractive because of its notable tenants as well as its location in one of Los Angeles’ hottest shopping districts.”