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Office, Land Portfolio Sells for $12M

NORTH HOLLYWOOD, CA-A family trust buys the five-parcel portfolio, which includes a 124,415-sf office building and another of 14,000 sf, from a San Francisco-based investment partnership.

By Bob Howard | Updated on September 10, 2002

NORTH HOLLYWOOD, CA-The Metcalf Family Living Trust bought the Valley Corporate Center in North Hollywood from Patrician Associates Inc., a San Francisco-based investment partnership for $11.69 million.

Lynwood Fields of Madison Partners tells GlobeSt.com that the portfolio occupies slightly over three acres and included a 124,415-sf office building at 12020 Chandler Blvd., a 14,083-sf office building at 5232 Laurel Canyon Blvd., a parking structure at 12032 Chandler Blvd., and two vacant lots. Fields and Madison’s Bob Safai represented the buyer and the seller, who had owned the property for more than 10 years.

Fields tells GlobeSt.com the buildings are 100% leased. Half of the space of the 124,415-sf office building is occupied by the County of Los Angeles Children’s Services Division, and the other half by Film Roman, an entertainment industry production company. The smaller building is occupied by a children’s services agency and a kidney dialysis center.

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