NGKF Closes Sale of LA-Area Office Campus
- Apr 18, 2017
NGKF Capital Markets closed the sale of Los Angeles Corporate Center, a four-building office campus located at 900, 1000, 1200 and 1255 Corporate Center Drive in Monterey Park, Calif., to Omninet Capital.
Sean Fulp, Kevin Shannon, Ken White and Brunson Howard of NGKF Capital Markets represented the seller, Equity Office Properties.
The four buildings comprise a total of 394,524 square feet of Class A office space. The campus is 95 percent occupied by tenants such as State of California, Los Angeles County, State Compensation Insurance Fund, Synermed and AT&T. The 11.9-acre property is centrally located along the 710, 10 and 60 freeways, which allows for immediate access to the western San Gabriel Valley and greater east Los Angeles office markets.
“It’s difficult to find larger investment opportunities within Los Angeles and especially with the utility and functionality that Los Angeles Corporate Center provides. Having multiple buildings and a diverse tenant mix so close to Downtown LA is going to allow Omninet to be more flexible than many other property owners,” said Fulp, in prepared remarks.
Image courtesy of Yardi Matrix