The buildings, which were 85% leased at time of sale, are situated on slightly more than four acres within a six-building office park just north of the intersection of the 405 and 90 freeways. The two-building office development and a free standing parking structure, which front a heavily landscaped courtyard, were built in 1985. The seller of the property was represented by Bob Safai and Andrew Jennison and the buyer by Lynwood Fields, all of Madison Partners.
In a separate Culver City transaction, architectural firm Shlemmer + Algaze + Associates has purchased an 8,000-sf office building at 6041 Bristol Parkway, where the company will relocate from West Los Angeles. Nelson Algaze, managing principal for the Los Angeles office of the architectural and interior design firm, says the purchase of the two-story building supports SAA's increasing growth as a regional design firm, offers better access to the company's regional client base and provides room for long-term growth. SAA's new Los Angeles office building is part of a complex that incorporates office and research and development space as well a regional retail center.
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