BOSTON-The seller of the 310,000-sf, two-building complex, which sits on five acres of land, is American Industrial Properties. Located 10 minutes from Los Angeles International Airport, the towers were built in 1985 and are currently 98% leased to such tenants as TRW Inc., Lucent Technologies and the Manhattan Beach Unified School District.

This is the second pairing of Charlesbank Capital Partners and Divco West. In 1998, they formed a joint venture that acquired and repositioned the 570,000-sf Park Center Plaza in San Jose, CA. Divco West, which specializes in repositioning assets in growing markets, has acquired more than nine million sf of commercial property and 700 acres of land to date.

Commenting on the Manhattan Towers acquisition, Chip Douglas, managing director of Charlesbank Capital Partners says, “The Manhattan Beach/El Segundo submarket is one of the tightest office markets in the Los Angeles area, with rapidly increasing demand and limited new supply. With the low vacancy and high rents of West LA, this area is seen as a value alternative, offering a desirable beach community, nearby amenities and easy access to the freeways.”

Charlesbank Capital Partners is a private investment firm with more than $2 billion of capital committed to acquisition and financing for growing corporations and real estate assets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.