Mani Brothers Grabs Landing at Playa Vista for $80M
- Nov 14, 2016
By IvyLee Rosario
Los Angeles—Mani Brothers Real Estate Group, a privately-held real estate investment firm that owns, renovates, operates, manages and leases 1.3 million square feet of commercial property, announced its purchase of The Landing at Playa Vista, located at 12655 Jefferson Blvd. in Playa Vista, Calif. The six-story property that was purchased for $80 million offers 100,000 square feet of renovated Class A office space. This location is the newest addition to the Mani Brothers’ portfolio, which includes some of Los Angeles’ top office and hospitality spaces.
“The Landing at Playa Vista is the perfect addition to our current portfolio of one-of-a-kind, landmark properties,” said Simon Mani, co-founder of Mani Brothers Real Estate Group, in prepared remarks. “Playa Vista has seen a surge of high-profile technology companies over the last few years, and we look forward to providing the office spaces of choice for these global companies. The high demand for creative space will continue to grow and attract tenants to this budding market.”
Originally built in 1985, the building was redeveloped in 2015 as creative office space, with extensive upgrades including exposed ceilings, outdoor decks and open floor plans. It offers easy access to the 90 and 405 freeways and the Runway at Playa Vista.
The transaction marks the second off-market acquisition by the Mani Brothers in the last two years in this location. The first purchase was a 94,000-square-foot Class A office building across the street at 12555 Jefferson Blvd. The sale was brokered by Madison Partners’ Bob Safai, Matt Case and Brad Schlaak.
Image courtesy of Yardi Matrix