The BPG affiliate completed extensive renovations that includedimprovements to the entrance lobby, a new roof and new landscaping.In addition, during its ownership of the property, BPG leased up to19,500 sf to new tenants and renewed 87,000 sf with existingtenants.

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According to Andrew White, senior vice president of BPG, theSandpointe building is an example of the types of deals that thePhiladelphia-based firm plans for its continued operations on theWest Coast. BPG's expanding presence in the West includes recentgrowth at its Los Angeles office, where it has hired new executivesto handle upcoming transactions, and its recent purchase of theIconic Financial Plaza Building in Mesa, AZ for $57.8 million.

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The West Coast expansion adds to a BPG portfolio consisting ofmore than 20 million sf of office, retail, student housing andindustrial properties and more than 25,000 apartment units. Thecompany owns holdings in more than 100 locales throughout theUS.

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The 200 E. Sandpointe building sold in a transaction that wasbrokered by Bob Smith and Mike Kane of the Newport Beach office ofCB Richard Ellis, who represented the seller. Last year, the 200 E.Sandpointe building was awarded a 2006 Office Building of the YearAward from the Building Owners and Managers Association in thecategory for office buildings of 100,000 sf to 249,000 sf in theregion.

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