Three Westside office buildings sold this month for prices far higher than their contemporaries just a few years ago, proof of ongoing demand for renovated office space in L.A.’s Silicon Beach.
The buyer, LaSalle Investment Management, purchased the properties for $168 million, picking up more than 205,000 square feet in Playa Vista and Malibu.
In Playa Vista, LaSalle landed two offices that recently underwent heavy makeovers. A 39,600-square-foot building at 12901 W. Jefferson Blvd., once a Class B industrial building, sold for $45 million, vaulting over its $15.9 million price from 2015. Advertising agency Deutsch Inc. in 2015 signed a 10-year lease to take the full space, but has yet to move in while final upgrades are underway.
LaSalle also purchased a 118,330-square-foot property at 5340 Alla Rd. for $95 million – far above the $36.2 million price tag from 2013.
Click HERE to learn more about the deal, which proves that Playa Vista real estate remains HOT HOT HOT.