The office project was acquired by 2465 Fruitland Avenue LLC, an affiliate of Cohen, in a transaction that was brokered by Terry Reitz and Gerald Kim of Grubb & Ellis. The Grubb & Ellis team represented the buyer and the seller.
Built in 1955, the steel frame, pre-cast concrete and glass building was completely rehabilitated in 1999 with new electrical, seismic and HVAC upgrades, along with the creation of a fiber-optic connected communication center. It is the latest in a series of acquisitions by Cohen Asset Management since the firm told GlobeSt.com earlier this year that it would target $285 million in leased assets via its fund.
Other Cohen acquisitions have included the 68,682-sf Carmenita Corporate Plaza in Cerritos, an office project that is occupied by Isuzu Motors America Inc.; and the 70,000-sf headquarters of merchandising display maker Beeline Inc. in Newark, CA.
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