Here are LA County’s top 5 office sales of February

After a strong December and January, the total sales figure took a sharp drop

Mar.March 19, 2019 03:00 PM
From top left, clockwise: The Atrium, 1900 W. Garvey Avenue, 6435 Wilshire Boulevard, Bristol 61, and 6350 W. Fountain Avenue (Credit: Google Maps)

Los Angeles County office investment sales were on a hot streak. In December, the top five office sales topped $375 million and January, that figure stood at about $250 million. In both months, one big purchase accounted for more than two-thirds of the total.

So it was no surprise that in February, without a big trade, the total would be down. And it was.

The top five office sales for the county totaled just $92.3 million last month. The largest trade was a $40 million office campus in Culver City, while a two-building office complex in Hollywood, for about half as much, was No. 2.

1. Bristol 61, Culver City | $39.2M

The Swig Company and Intercontinental Real Estate Corporation sold a 4.9-acre office campus at 6100-6160 Bristol Parkway to Alexandria Real Estate Equities for $39.2 million.

The Bristol 61 campus last traded hands for $20.2 million in 2014, and the two firms spent the past four years renovating the property. Its tenants include Siemens Medical Solutions, Momentum Biosciences, Sofie Biosciences, and PETNET Solutions.

2. 6350 W. Fountain Avenue, Hollywood | $18.6M

Andell Holdings purchased the two-building office complex, which encompasses 45,350 square feet. The tenant is post-production company Encore VFX. The seller was an LLC that shares an address with Beverly Hills-based Maxxam Enterprises, which also owns properties like the Beverly Hills Gateway Tower and the Promenade Gateway in Santa Monica.

3. The Atrium, La Mirada | $13.6M

Saunders Property Company sold The Atrium in La Mirada through a 1031 exchange. The buyer of the 84,000-square-foot property at 16700 Valley View Avenue was Anaheim-based investment firm Milan Capital Management.

It is 90-percent leased to 24 tenants.

4. 1900 W. Garvey Avenue, West Covina | $11M

The Wongjin Group sold its office at 1900 W. Garvey Avenue to Covina Office Building, LLC. The 39-year-old building is around 89,000 square feet, according to Reonomy. The office is down the road from Roger Penske Jr.’s former car dealerships at 1829 E. Garvey Avenue and 2010 E. Garvey Avenue, which also recently sold for $48.7 million.

5. 6435 Wilshire Boulevard, L.A. | $10M

Black Equities Group purchased the Joyce and Stanley Black building for $10 million. The seller was ORT Technical Institute. Nonprofit group Baby2Baby is also a tenant. The nearly 70-year-old building is 41,000 square feet.

Related Articles

Homes in some parts of LA grew more than 60 percent over five years (Credit: iStock)

Up, up and away: Home prices soared 60% over 5 years in some parts of LA

The former Omega Cinema Props warehouse on Santa Monica Boulevard and the Hollywood Forever Cemetery (Credit: Google Maps, Hollywood Forever)

Warehouse complex will get new life next to Hollywood Forever Cemetery

Blackwelder office campus and Kilroy CEO John Kilroy

Kilroy Realty will pay $185M for Culver City media-focused office campus: sources

Holland Partner Group CEO Clyde Holland and a rendering of the Hollywood project

Holland Partner Group’s Hollywood apartment project faces labor union challenge

1723 N Wilcox Avenue (Credit: Google Maps)

Hollywood hotel construction craze: Developer abandons apartment project for hotel instead

5800 Green Valley Cir, Culver City (Credit: Google Maps)

Jones & Jones buy multifamily property in bustling Culver City

amitaur Constructs founders Laurie and Frederick Samitaur Smith and the development site (credit: Getty Images and Google Earth)

Developer behind (W)rapper Tower now planning a 22-story office tower in West Adams

A rendering of the proposed hotel project on Whitley Street (Credit: Daryoush Safai)

Reservations: Hollywood hotel project faces appeal from rent control tenants