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195,000-SF Office Building Sells for $6.4M

LOS ANGELES-The property was 70% leased at the time of sale. The purchase was not a strict investment deal, according to the broker, but rather was purchased based on its potential for adaptive reuse.

By Peter Landau | Updated on May 09, 2002

LOS ANGELES-Albion Pacific Property Resources, a San Francisco-based firm that specializes in value-added investments through adaptive re-use, has purchased a 195,000-sf office building here. The property was sold by the Los Angeles-based Bolour Trust. The transaction was valued at $6.4 million.

The building is located at 548 S. Spring St. The property was 70% leased at the time of sale. The purchase was not a strict investment deal, according to the broker, but rather was bought for its potential as mixed use.

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