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Why Vornado’s LA selloff is all about New York
REIT is looking to sell last SoCal property to focus on Manhattan: analysts
From the Los Angeles website: The sale of Vornado Realty Trust’s last remaining Los Angeles property will be another step towards consolidation and simplification for the real estate investment trust, sources told The Real Deal.
The company’s decision to sell off the 43,000-square-foot Class A office property at 800 Corporate Pointe in Culver City is in line with its recent attempts to refocus its attention on New York office deals and tie up loose ends on anything that’s distracted from its core focus. [more]