The building, which is located at 2430-2456 Del Amo Blvd., encompasses 266,000 sf. The mixed-use space is utilized for distribution, office and retail purposes. It was 100% leased at the time of sale.
Applause Inc., the Woodland Hills-based manufacturer of plush toys, occupies 80% of the building. The other 20% of the facility is leased to budget-minded retailer Pic 'n Save.
The seller, West Coast Liquidators, was represented by Jim McLaughlin and George Eshaghian of Cushman Realty Corp. The buyer was represented in-house.
In January, AMB reported that occupancy for its entire portfolio was up from 95.9% at year-end 1999 to 96.3% at year-end 2000. In the same report, the REIT announced that it would dispose of nearly $1 billion of retail assets and focus on industrial real estate.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
