Harbor Associates pays $48M for Encino business park

Harbor has been on expansion tear since last spring, when it said would deploy $500M in office property purchases

TRD LOS ANGELES /
Apr.April 03, 2019 10:00 AM
From left: Joon Choi, Justin Loiacono, and Paul Miszkowicz with 6345 Balboa Boulevard

Investment firm Harbor Associates bought a 20-year-old office park in Encino, a property that could be primed for repositioning.

The Long Beach-based company paid Moss Group $47.9 million for the 213,000-square-foot complex, records show. The deal pencils out to $224 per square foot. Real Estate Alert first reported the deal.

Developer Moss Group built the four-building complex in 1990s. Located at 6345 Balboa Boulevard, it’s by the Metro Orange Line and includes a cafe and parking.

CBRE brokered the deal.

Harbor has been on an expansion tear since last May, when it announced a plan to deploy $500 million into office property acquisitions in the Western U.S.

It specializes in acquiring assets that are candidates for repositioning. In October, the firm joined forces with Belay Investment Group to acquire two office buildings, one in Glendale and the other in Denver. As part of the $59 million deal, the two Los Angeles-based firms paid seller CBRE Global Investors $28 million to acquire the Glendale Gateway, an eight-story building located at 700 North Central Avenue in Glendale.


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Clockwise from top left: 13224 Old Oak Lane, 4425 Haskell Avenue (center), 656 Lachman Lane, 375 N. Saltair Avenue and 1200 Club View Drive

The Weeknd’s Beverly West condo tops LA County resi sales

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Rendering of a proposed residential building on 16161 Ventura Boulevard with Daniel Keshani (Credit: LADCP)

Encino investors drop resi complex plan in favor of eldercare facility

arrow_forward_ios
Loading...