CARSON, CA-Newton, MA-based CommonWealth REIT has acquired the402,000-square-foot Northrop Grumman campus in the South Baysubmarket here from two separate sellers in two transactions for$51 million. The combined sale was brokered by Kevin Shannon, JohnAyoob and Scott Schumacher of the CB Richard Ellis South Bayoffice, which represented all three parties in both transactions.The sellers were JH Snyder and the Carson Cos.

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The campus, located on the southwest corner of Wilmington Avenueand Glenn Curtiss Street in Carson, is 100% NNN leased to NorthropGrumman Corp. and includes five two-story office buildings servingas the regional anchor location for Northorp’s Information Systemssector. The buildings, which are part of theeight-million-square-foot master-planned Dominguez TechnologyCenter, were originally constructed in 1987 for TRW, which waseventually acquired by Northrop as part of its Space and MissionSystems division. Northrop recently renewed the lease term forseven years.

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The $51 million sale was one of at least three major officetransactions brokered recently by CB Richard Ellis, including the$2.33 billion sale-leaseback of a portfolio of California Stateoffice buildings and three transactions in Playa Vista totaling $80million on behalf of a receivership.

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In the $2.33 billion deal, Shannon marketed an 11-property,7.3-million-square foot portfolio of state office buildings onbehalf of the California Department of General Services. Apartnership led by Houston-based Hines and Antarctica Capital RealEstate LLC was the buyer.

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In Playa Vista, in one of the three transactions the LosAngeles-based Ratkovich Co. and Penwood Real Estate InvestmentManagement paid $32.4 million for 11 historic buildings totaling537,130 square feet on four parcels of land totaling over 1.2million square feet that includes the Spruce Goose hangar.

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In the other two sales, Tishman purchased four of the nineparcels in the campus totaling 18.8 acres which are locatedadjacent to its recently completed four-building325,000-square-foot, 7.7-acre, phase one development; a 10.7-acreparcel which is entitled for up to approximately 550,000 ofoffice/studio production support space sold to Lincoln PropertyCo.

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The three Playa Vista deals were brokered by Shannon,Schumacher, Stan Gerlach, Bob Dubbins and Rob Waller.

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