"These sales reflect the continued execution of our long-term investment strategy of leveraging market conditions to dispose of non-core assets," says Equity Office Properties Trust president and CEO Richard Kincaid.
Janss Court, which includes 32 multifamily units in addition to 92,400 sf in Santa Monica, was sold for $35.5 million to Maxxam Partners. Pacific Corporate Structures LLC paid $16.1 million for Equity Office Property Trust's leasehold interest in Commerce Park, also in Santa Monica.
With Bridge Partners Inc. acquiring the 136,170-sf US West Dex Center for $11.6 million, Equity Office Properties Trust is out of the Salt Lake City market all together.
The 60,300-sf Huntwood Business Park, part of an industrial portfolio inherited from the merger with Speiker Properties, went to PNK LLC for $4.4 million.
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