ENCINO, CA-An investment group has paid $4.3 million for an office building here that will soon become the new corporate headquarters of real estate brokerage firm NAI Capital Commercial.
The 32,000-sf complex stands at 16001 Ventura Blvd., across the street from NAI Capital Commercial's current headquarters. It was purchased by private partnership Ventura Gaviota LLC, which was represented by NAI Capital Commercial's Bob Scullin and the brokerage firm's chairman, Michael A. Zugsmith.
The seller is Newell & Associates LLC, another Southland-based limited partnership. Newell was represented by NAI Capital Commercial's Cathy Scullin and Ari Waldstein.
The brokerage firm plans to relocate its corporate headquarters into the new building next year. The two-story complex will also serve as the home of the company's San Fernando Valley regional offices.
NAI Capital Commercial has 12 offices across Southern California. As a Southland affiliate of NAI, it's part of a global organization that consists of 150 member firms with offices in 300 markets in the US, Latin America, Europe and the Pacific Rim.
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