Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Four office flex buildings totaling 187,534 sf at Los Angeles Media Tech Center have traded for $28 million, according to Voit Commercial Brokerage.

Private real estate investment company UCV LP acquired the four buildings from Los Angeles Media Tech Center LLC, according to Brian Corrigan and Rob Socci of the Anaheim Metro office of Voit Commercial Brokerage, who represented the buyer. The buildings are located at 2702, 2705, 2709 and 2710 Media Tech Center Drive. The buildings, which range in size from approximately 33,000 sf to 66,000 sf, are part of a seven-building, master-planned business park that was built in 2000 and is situated within 10 miles of Downtown and the Tri-Cities area of Glendale, Pasadena and Burbank. The properties that traded are 100% leased to a roster of tenants that includes the City of Los Angeles, Los Angeles Unified School District, Banc One, Altrio Communications, David Morse & Associates, and Aurum Technology.

Corrigan notes that the client had specific investment criteria that limited it to considering only properties in the $20-million to $30-million-price-range that had to be located in the city or Orange County. UCV acquired the assets for it long-term portfolio, he adds. Mark Perry of the Sherman Oaks office of CB Richard Ellis represented the seller.

The buildings that sold were part of a project that was developed by a partnership of Legacy Partners and AMB Property Corp., who described the site as “a campus environment with nearby retail amenities.” The property is on the northern end of a part of the city known as Taylor Yard, on the eastern boundary of the Los Angeles River, which figured in the early history of the city and later became a railroad yard.

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?

Dig Deeper



Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.