Culver City office campus sells for $39M
Property includes 4 buildings with 76K sf
Alexandria Real Estate Equities has purchased a four-building office campus called Bristol 61 in Culver City for $39.2 million.
The 4.9-acre campus at 6100-6160 Bristol Parkway includes 75,940 square feet of space, the Los Angeles Business Journal reported. Fund management firm Intercontinental Real Estate Corporation and investment firm The Swig Company were the sellers. The two firms spent the past four years renovating the property.
The campus last traded hands for $20.2 million in 2014, and was formerly known as Fox Hills Business Park.
Newmark Knight Frank represented the sellers, and Alexandria Real Estate represented itself in the transaction.
The Swig Company and Intercontinental Real Estate Corporation are also partners in the 407,915 square-foot New York Life building at 6300 Wilshire Boulevard in Miracle Mile. They purchased it for $148.5 million in 2016. Intercontinental also acquired the 338,000 square-foot Connexion Burbank complex for $125 million last year.
From its base in Pasadena, Alexandria Real Estate has secured some major deals on the East Coast. In October, the firm signed a deal to build a 550,000 square-foot life sciences tower in New York, about a week after it purchased a 175,000 square-foot property in Long Island for $75 million. [LABJ] – Gregory Cornfield