The Real Deal Los Angeles

Providence Health System inks deal for 36K sf in Playa Vista

Mani Brothers Real Estate Group bought the building for $48.5M last year

February 01, 2016 01:02PM

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12555 Jefferson Boulevard

Providence Health System–Southern California, a nonprofit healthcare provider, has inked a deal for 35,562 square feet at 12555 Jefferson Boulevard in Playa Vista.

The 15-year deal is one of the largest on L.A.’s Westside so far this year and brings the 90,000-square-foot building to full occupancy. 

Landlord Mani Brothers Real Estate Group bought the three-story Class A property in an off-market transaction last year for $48.5 million, or $543 per square foot. It’s in the midst of a massive renovation and will have its exterior completely transformed with dramatic lighting in the coming months.

Madison Partners’ Chris DuMont and Brad Chelf of CBRE represented Mani Brothers Real Estate Group in the transaction.

Providence plans to use the property to house primary and specialty care physicians. It’s slated to open its office there in mid to late 2016. — Katherine Clarke