In the Pomona deal, Los Angeles-based University Corporate Center LLC purchased a two-building project, which is known as University Corporate Plaza, at 971-975 Corporate Center Drive and 981 Corporate Center Drive. The transaction was part of a 1031 exchange, with Kevin Shannon, Scott Schumacher and Michael Moore of Grubb & Ellis South Bay office representing both the buyer and Silagi Development of Thousand Oaks, the seller.
The buildings, which were 100% leased at the time of sale, were built in 1988 and are of reinforced concrete construction.
In the Los Angeles transaction, An Apple A Day LLC acquired the three-story, brick medical office building, which is known as the Wilshire Westgate Medical Building. The property, which is at 11860 Wilshire Blvd., was sold by West Los Angeles-based PCS Development and was approximately 65% occupied at the time of the sale. Alexander Wadley of Grubb & Ellis' North Los Angeles office represented the seller, with the buyer represented by Jim Burnap of Beitler Commercial Realty Services.
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