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

The top trade, a $321M deal in Santa Monica, topped the following four combined

Los Angeles /
Apr.April 17, 2019 05:00 PM
The top five office investment sales of March

March was a busy month for office trades, but a blockbuster trade for Class A space at the Lantana Campus in Santa Monica easily topped them all. Here’s a look at the top trades last month.

1. Lantana Center and Lantana West, Santa Monica | $321.5M

Media production company Skydance Media closed on a deal for half of the Lantana office complex in late March, paying Artisan Realty Advisors and Brightstone Capital Partners around $1,152 per square foot for 278,700 square feet of Class A office space between two buildings.

Sources told The Real Deal that Artisan and Brightstone are gearing up to market the 203,000-square-foot south portion of the campus with Eastdil Secured. Tenants include Tennis Channel and Dick Clark Productions.

2. 8942 Wilshire Boulevard, Wilshire Corridor | $107.5M

Dutch investment firm Breevast cut a deal with a joint venture of Ocean West Capital Partners and Walton Street Capital for two office properties in L.A. last month. The larger of the two deals was for an 83,000-square-foot office building leased entirely to Paradigm Talent Agency. Breevast secured $64 million in financing for the deal.

3. 4525 Wilshire Boulevard, Wilshire Corridor | $46.5M

The other building part of the Breevast deal is a 76,000-square-foot building on Wilshire. Breevast took out a $24.4 million acquisition loan with Zions Bancorporation for the purchase. As of 2016 when Ocean West and Walton Street purchased it, the building was 90 percent leased to a handful of tenants.

4. 18455 South Figueroa Street, Gardena | $29M

Atlas Capital Group inked a leaseback purchase with struggling electric vehicle developer Faraday Future for its 125,900-square-foot headquarters in Gardena. The firm bought its headquarters — located two neighboring addresses — in 2014 and 2015 for $21 million combined. Faraday said it plans to put the funds toward a rollout of its new model this year.

5. 15127 Whittier Boulevard, Whittier | $19.5M

In Whittier, an entity linked to Arcadia-based investment company Positive Investments sold this 57,000-square-foot office building for around $342 per square foot. The buyers were a family trust for Dr. Sohaul Mahboubian, an Encino-based cardiologist and an entity linked to property manager Davis Harouni. Positive Investments paid $16.5 million for the property just six months prior in September.


Related Articles

arrow_forward_ios
Renderings of One Beverly Hills and Beny Alagem. (One Beverly Hills, Getty)
Beny Alagem’s $2B Beverly Hills project gets go-ahead
Beny Alagem’s $2B Beverly Hills project gets go-ahead
The San Pedro Fish Market is one of the top-grossing restaurants in the U.S. (Getty, Facebook via San Pedro Fish Market and Restaurant / Photo Illustration by Alison Bushor for The Real Deal)
San Pedro Fish Market plans new “supersize” restaurant
San Pedro Fish Market plans new “supersize” restaurant
The Chateau Marmont (Getty) and protest signs (Unite Here Local 11)
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
The Colorado Center with Hulu President Kelly Campbell and Boston Properties CEO Owen Thomas (inset) (Photos via Getty, LA Realty Partners)
Hulu adds space at Roku-occupied Colorado Center
Hulu adds space at Roku-occupied Colorado Center
Pen Factory, GoodRx CEOs Doug Hirsch and Trevor Bezdek. (Pen Factory, GoodRx)
GoodRx adds 57K sf at Santa Monica’s Pen Factory
GoodRx adds 57K sf at Santa Monica’s Pen Factory
Snap Inc CEO Evan Spiegel, Boston Properties CEO Owen Thomas and Santa Monica Business Park. (Getty, Boston Properties)
Snapchat’s parent company expands headquarters at Santa Monica Business Park
Snapchat’s parent company expands headquarters at Santa Monica Business Park
Small Business Administration administrator Isabel Guzman (Getty, iStock)
Starved for relief: Restaurants seek $76B, far more than budgeted
Starved for relief: Restaurants seek $76B, far more than budgeted
Goodman CEO Greg Goodman and a rendering of the facility. (Goodman)
Goodman’s massive logistics center will target e-commerce tenants
Goodman’s massive logistics center will target e-commerce tenants
arrow_forward_ios

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

Loading...