The building, which is located at 5150 Pacific Coast Highway, was 89% leased at the time of sale. The property was sold by Southwest Value Partners and South Charles of Los Angeles.
Kevin Shannon of Grubb & Ellis, with assistance from the project leasing team of Robert Alperin, Robert Geary and Kim Wassick, represented the seller in the transaction. Jack Ruban of Southpark Group represented the buyer.
Kevin Shannon last represented Grubb & Ellis when a private investment group paid $13.9 million for an office complex in Thousand Oaks. The 103,719-sf development stands at 195-325 E. Hillcrest Dr. It¹s known by local brokers as Thousand Oaks Financial Plaza. Tom Festa, also of the Grubb & Ellis team with Kevin Shannon, represented Pacifica Thousand Oaks in the transaction.
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.
