The property consists of a two-story steel-frame building at 5601 E. Slauson Ave. and a six-story steel-frame building at 5701 S. Eastern Ave., according to Ryan Smith and Stephen Somer, a Cushman & Wakefield of California Inc. team that represented buyer and seller. The property is about 10 miles southeast of downtown Los Angeles, was built in 1983 and was 83% occupied at sale time. Tenants include the County of Los Angeles, State of California, Wells Fargo Bank and City National Bank.
Pacifica is a private real estate investment and management company with a portfolio of properties primarily in Central and Southern California. This is the third major Southern California investment for Pacifica in the past year. In September, the firm acquired a 100,146-sf office building in downtown Long Beach for more than $13 million. In April 2002, it bought two business parks totaling, 129,000 sf, in nearby Lakewood, CA, for $12.3 million.
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