LA Office Building Sells Online for $17M
- Dec 18, 2017
Didi Hirsch Mental Health Services has acquired an office building in Los Angeles’ Century City neighborhood, with the transaction handled completely online. Lancelot Commercial’s Jonathan Wolk utilized Ten-X’s Offer Select tool for the transaction. The value of the transaction was $17 million, according to Los Angeles County records.
Located at 10277 W. Olympic Blvd., the two-story building encompasses 13,506 square feet of office space. Sitting next to two city bus lines, the area will be served by the future Century City Station on the L.A. County Metro’s Purple Line extension, due to open in 2024. Less than half a mile from Santa Monica Blvd., the property is positioned within two miles of the San Diego Freeway.
The original owner, CompuLaw, constructed the building in 2006, occupying it as their main office. After the company was purchased in 2011, the owner shuttered their offices and leased the full property to MarVista Entertainment, a film and television programming distributor. After the tenant vacated the premises in 2016, Lancelot Commercial began marketing the property. Following the sale, Didi Hirsch Mental Health Services intends to brand the building as the company’s first suicide prevention center.
“10277 West Olympic Blvd. is an excellent case study of how the streamlined transaction process of our data-drive marketplace continues to create better outcomes for brokers, buyers, and sellers of commercial properties,” said Steve Jacobs, general manager of Ten-X, in a prepared statement.
A quarter mile down the street, Westfield Corp. opened their redeveloped shopping center, Westfield Century City, in October.
Image via Google Street View