HOLLYWOOD, CA- Scanlan Kemper Bard Cos. of Portland, OR has acquired the CNN Building, also known as Sunset Tower, for $34 million in one of a flurry of office deals totaling more than $91 million that closed recently in LA County. SKB, a real estate merchant banking and development advisory firm, bought the 14-story, 198,713-sf class A office building at 6430 W. Sunset Blvd. from an affiliate of New York’s Meringoff Equities in a transaction brokered by Carl Muhlstein of Cushman & Wakefield in Downtown Los Angeles. Todd Gooding, an SKB Principal, notes that the office tower lies along the Sunset and Vine retail corridor, which is currently the focus of $1 billion in new retail and residential development and rehabilitation. Sunset Tower is one of Hollywood’s landmark buildings, with the CNN sign positioned prominently at its top.The other deals included two transactions in Woodland Hills and Santa Monica totaling $30 million, a $14.4-million purchase in West Covina, and a $12.7-million sale in Agoura Hills. In the Woodland Hills and Santa Monica deals, Lynwood Fields of Madison Partners reports that Dr. David Lee’s LA-based Jamison Properties has acquired the 144,000-sf Warner Atriums adjacent to the Hilton Hotel in Warner Center, while a private individual has purchased a 42,050-sf office building located at 604 Arizona Ave. in Santa Monica. Warner Atriums, located at 6400 Canoga Ave., consists of twin, three-story atrium buildings situated on 4.7 acres and includes a parking structure. The property is 55% leased and represents a rare, “value-added” opportunity for the buyer because of its first-class location, Fields says. Built in 1981, the building was 90% leased before the recent relocation of Life Share Life Care Assurance Co. which occupied approximately 38,000 sf. Fields represented both Jamison and the seller, Scanlan Kemper Bard. The 604 Arizona Ave. property is a three-story building and is 100% occupied by Oracle. Built in 1950 and extensively remodeled in 1995 for the tenant, the property was sold by DT Santa Monica, which was represented by Fields. The buyer was represented by Andrew Wilson of Lee & Associates.In the West Covina transaction, an Arcadia-based investment partnership bought the 115,635-sf Cameron Court Office Park at 1501 W. Cameron Ave. for $14.4 million from a Southern California investment group in a 1031 exchange. The sale was brokered by Gregory Harris and Andrew Hodac of Marcus & Millichap in Encino.In Agoura Hills, Tony Principe of Westlake Village-based Westcord Commercial Real Estate Services reports that Pacifica Real Estate Group of Santa Barbara acquired a new, fully occupied, class A, office building with extensive visibility along the Interstate 101 technology corridor for $12.7 million. The two-story, 65,823-sf building occupies 3.5 acres at 30301 Agoura Road and was sold by Katell Investment Co. LLC, the developer of the property.Principe represented Pacifica Real Estate Group, with the seller represented by David Corsello, Keith Green and Michael Foxworthy of GVA Daum.

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