Northwood Investors pays $120M for Culver City office complex

Seller NortonLifeLock will hold a 7-year lease on part of 288K sf property

Los Angeles /
Aug.August 11, 2020 09:21 AM
From left: NortonLifeLock’s Vincent Pilette, Northwood Investors’ John Krukal, and the property (Credit: Google Maps)
From left: NortonLifeLock’s Vincent Pilette, Northwood Investors’ John Krukal, and the property (Credit: Google Maps)

Northwood Investors paid $120 million for a Culver City office complex, representing a major investment in the area in an uncertain market.

NortonLifeLock sold the 288,000-square-foot office building, according to Connect Media, which first reported the story. NortonLifeLock will hold a seven-year lease on two stories of the five-story building. The property is located at 900 Corporate Pointe, inside the Corporate Pointe campus.

Symantec Corporation — as it was known before the November name change to NortonLifeLock — developed the property in 2007, as its Southern California headquarters. The name was changed after Broadcom Inc. acquired part of Symantec’s software business for $10.7 billion.

Other tenants at the Corporate Pointe complex include payroll company ADP, Red Light Media and Antioch University.

Cushman & Wakefield brokered the transaction.

Northwood owns three other properties in the Los Angeles area: West L.A.’s Trident Center office campus, the London West Hollywood hotel, and about 19 acres of undeveloped land in Playa Vista.

As of last year the firm had a stake in two Playa Vista office campuses. Northwood refinanced the London West Hollywood with a $165 million loan last year. [CM]Dennis Lynch


Related Articles

arrow_forward_ios
Bardas Investment Group founder David Simon and the site of the project. (Google Maps, Bardas, Getty)
Bardas Investment plans production studio at former Sears
Bardas Investment plans production studio at former Sears
Tesla's new property is 82,000 square feet. (Getty, Daum Commercial)
Tesla inks big lease on office/warehouse in Santa Monica
Tesla inks big lease on office/warehouse in Santa Monica
(Getty, iStock)
LA’s office market hasn’t even started to recover
LA’s office market hasn’t even started to recover
Rendering of 2045 E. Violet Street (Rios via Urbanize)
Major office complex proposed for Arts District
Major office complex proposed for Arts District
Rising CEO Christopher Rising and Park Calabasas
Rising Realty and Fortress sell Park Calabasas to Gemdale for $79M
Rising Realty and Fortress sell Park Calabasas to Gemdale for $79M
More new construction office space is coming online this year in LA than any other US market. (Getty)
LA expects 7M sf of new office space delivered in 2021. That’s a problem
LA expects 7M sf of new office space delivered in 2021. That’s a problem
Activision Blizzard CEO Bobby Kotick. (Getty, Activision)
Activision Blizzard vacates Santa Monica HQ, seeks new space
Activision Blizzard vacates Santa Monica HQ, seeks new space
9033 Wilshire Boulevard (Google Maps)
LaSalle sews up Beverly Hills medical office for $75M
LaSalle sews up Beverly Hills medical office for $75M
arrow_forward_ios

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

Loading...