The building, which is located at 5150 Pacific Coast Highway, was 89% leased at the time of sale. The property was sold by Southwest Value Partners and South Charles of Los Angeles.
Kevin Shannon of Grubb & Ellis, with assistance from the project leasing team of Robert Alperin, Robert Geary and Kim Wassick, represented the seller in the transaction. Jack Ruban of Southpark Group represented the buyer.
Kevin Shannon last represented Grubb & Ellis when a private investment group paid $13.9 million for an office complex in Thousand Oaks. The 103,719-sf development stands at 195-325 E. Hillcrest Dr. It¹s known by local brokers as Thousand Oaks Financial Plaza. Tom Festa, also of the Grubb & Ellis team with Kevin Shannon, represented Pacifica Thousand Oaks in the transaction.
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