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

TRD LOS ANGELES /
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

arrow_forward_ios
Bernard Huberman and Hollywood’s Television Center (BLT, Television Center)

BLT Enterprises buys Hollywood’s Television Center for $64M

BLT Enterprises buys Hollywood’s Television Center for $64M
Photo illustration of Hudson Pacific Properties CEO Victor Coleman and Blackstone Group President Jonathan Gray (Coleman by Rich Polk/Getty; Gray by Drew Angerer/Getty; Top Gun by Paramount Pictures/Sunset Boulevard/Corbis/Getty)

Inside Hudson Pacific and Blackstone’s field of streams

Inside Hudson Pacific and Blackstone’s field of streams
Phillip Aarons and a rendering of the project (Credit: Patrick McMullan via Getty Images)

Earth shaking news: Hollywood Center megaproject on active fault line

Earth shaking news: Hollywood Center megaproject on active fault line
6725 West Sunset Boulevard in Hollywood and Vanbarton Group's Richard Coles (Credit: Google Maps)

Vanbarton’s Sunset Boulevard office complex goes to special servicing

Vanbarton’s Sunset Boulevard office complex goes to special servicing
Onni Group president Rossano De Cotiis and the site (Credit: Google Maps)

Onni Group plans 14-story office complex in Hollywood

Onni Group plans 14-story office complex in Hollywood
JADE Enterprises Director of Development Daniel Taban and the development site (Credit: Google Maps)

Jade Enterprises plans apartment complex in Hollywood

Jade Enterprises plans apartment complex in Hollywood
Mario J. Palumbo, managing director of Seward Partners and Millennium Partners, and the site (Credit: Google Maps)

MP Los Angeles plans 14-story office development in Hollywood

MP Los Angeles plans 14-story office development in Hollywood
A rendering of the Vine Street project (Credit: Hawkins\Brown Architects via Urbanize)

Post Group’s Matt Cooper plans offices on Vine St. in Hollywood

Post Group’s Matt Cooper plans offices on Vine St. in Hollywood
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...