The deal included the class A five-story 901 Corporate Center Dr. building and an adjacent three-level parking structure. Built in 1987, the building sits on 10.71 acres of land within the Los Angeles Corporate Center, a master-planned office campus in the Western San Gabriel Valley.
The property is currently 97% leased to 15 tenants, among them New York Life Insurance Co., Kajima Construction and Transamerica Life Co. In addition to Shannon's team, Triple Net was represented internally by David Mellor, Philip Hurst and Robert Munson. Triple Net had owned the property since August 2003, when it bought it for $16.15 million.
The 901 Corporate Center Dr. acquisition boosts Jamison's ever-growing portfolio of Southern California office properties to one of the largest in the region. The company, established and headed by Dr. David Lee, is believed to own upwards of 20 million sf of commercial properties in Southern California, primarily office buildings but also medical offices, apartments and other property types.
Among Jamison's other acquisitions this year have been the $14.7-million purchase of a Mid-Wilshire office and retail building, the $34.2-million purchase of two office buildings in Long Beach totaling 230,793 sf and the $30.3-million acquisition of a portfolio of 198,000 sf of medical office space in Orange County.
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