LOS ANGELES—The Swig Co. and Intercontinental Real Estate Corp. have partnered to purchase Fox Hills Business Park, a 75,300-square-foot office park in Culver City, CA. The buyers purchased the property in an all-cash transaction. The terms of the transaction and the purchase price were not disclosed.
This is the Swig Co. and Intercontinental Real Estate Corp.'s first joint venture acquisition together. Intercontinental Real Estate Corp. made the investment through U.S. Real Estate Investment Fund LLC, the firm's current investment vehicle. Bob Safai and Matt Case of Madison Partners represented the buyers in the transaction. The pair also represented the Swig Co. in the $26 million purchase of the Disney headquarters earlier this year.
Located at 6100-6160 Bristol Parkway in Culver City, the office park has four buildings and has been getting an influx of tenants spilling over from Santa Monica and other popular Westside destinations. According to Tomas Schoenberg, SVP of Investments for The Swig Co., this acquisition allows the company to capitalize on the activity in the Westside markets. The Swig Co. and Intercontinental Real Estate Corp. did not respond to a request for comment about the acquisition.
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Kelsi Maree Borland
