The property is fully leased. Major tenants include the credit union, which will retain its 19,470 sf at the project. Another large tenant is Panasonic, the electronics development division of Matsushita Electric Corp. of America, which occupies 46,112 sf.
William Shubin, Legacy's SVP of acquisitions and development, says the building is ideally located because it's close to several entertainment and retail venues. He adds that the company is "continually looking to locate and acquire" properties in LA's commercial real estate market.
John Minervini of Cushman & Wakefield's Los Angeles office represented both the buyer and the seller in the transaction.
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