A 'Bread-and-Butter' Week for LA Transactions Spell Confidence in the Region's Market

LOS ANGELES-Though no blockbuster transactions have occurred in the office market here over the past few weeks, several smaller properties have recently changed hands–a sign that many brokers say reflects continued confidence in the region’s real estate future.

The latest deal was announced earlier today. MMC Inc., a human resources company that specializes in the health-care industry, says that it paid $5.2 million for a 21,730-sf office building at 8150 Beverly Blvd. in the Park La Brea area.

MMC bought the building from Salick Health Care, a subsidiary of London-based conglomerate AstraZeneca PLC. David Lachoff and Kathleen Silver of Grubb & Ellis’ West LA office represented the seller. The buyer was represented by Thomas Patriarca, who also works in Grubb & Ellis’ Westside office, and Yasmine Kashani of ReMax.