Beacon Capital lands office campus near LAX
The seller, LBA Realty, acquired the 10-acre property a decade ago
Beacon Capital Partners has acquired a three-building office campus in Del Aire, close to Los Angeles International Airport. The $43 million deal comes about two months after a supply company filed suit against the seller, LBA Realty, for unpaid work on the property.
The office complex, at 5220-5245 Pacific Concourse Drive, totals 228,500 square feet, and is just southeast of Los Angeles International Airport. The three buildings on 10 acres are arranged in a semicircle around a cul-de-sac.
The lawsuit was filed by Onesource Distributors against LBA, after a contractor failed to pay for services. The amount in dispute isn’t clear.
LBA purchased the complex about a decade ago for $35 million. Tenants include three academic institutions — Argosy University, National University, and the University of California Los Angeles’ paramedic school.
Beacon is based in Boston, but owns about 48 properties around the country. Its last major move in the L.A. area, where it owns a handful of properties, was the $460 million sale of One California Plaza to Rising Realty Partners a year ago.