Swig Stays on Course in CA Expansion Goal

LOS ANGELES-San Francisco-based The Swig Co. has completed its purchase of 617 W. Seventh St., a 12-story building totaling 218,000 square feet of office and retail space in downtown Los Angeles. Although Swig would not disclose the purchase price, an unidentified source tells GlobeSt.com that it sold for approximately $39 million or roughly $200 per square foot.

This is Swig’s second acquisition in Southern California in the last 90 days. In late October, as GlobeSt.com reported, the company purchased 595 N. Colorado, an eight-story office building in Pasadena, CA.  And last month, the Swig Company closed on the sale of ARCO Center in Long Beach, as GlobeSt.com reported, to the building’s major tenant, Molina Healthcare for $81 million. The Swig Company’s portfolio includes commercial properties in California, New York, Texas and New Jersey.