Built in 1987, the two-story office building was 87% leased at the time of the sale. It was originally designed to suit Cigna HealthCare, and the lobby was completely renovated in 1998. The parking area features an above-average parking ratio, with 5 spaces per 1,000 sf versus the three per 1,000 market average.
Snyder Partners is a subsidiary of the JH Snyder Co., which has developed and acquired more than 8 million sf of office and retail projects and developed more than 40,000 housing units throughout Southern California.
The Praedium Group is a real estate investor focusing on under-performing and undervalued assets throughout North America, with more than $2 billion in total investments to date. In November 2002, Praedium and Snyder Partners acquired an office building at 900 N. Cahuenga Blvd. in Hollywood.
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