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LOS ANGELES-A 3.5-acre site in Santa Monica has been sold by a wholly owned subsidiary of Liberty Livewire Corp., a company that provides technical and creative services to the entertainment industry. The sale is part of Liberty’s efforts to consolidate its Los Angeles real estate portfolio.

The property has been sold for close to the asking price of $14.5 million, according to a Liberty spokesperson. Competing offers for the site, which is located at Colorado Ave. and 11th St., were received from local and regional developers.

The seller, Four Media Inc., was represented by an Insignia brokerage team consisting of Christopher Houge, Rick Buckley and R. Todd Doney. Len Nadler and Mark Sullivan of Julien J. Studley Inc. negotiated for the buyer, M&K Real Estate.

Liberty Livewire is a Santa Monica-based company that offers a range of services including audio and video post-production, transmission, library services and Internet hosting.

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