Alliance bought the buildings from Chatsworth Capital Group in adeal brokered by Bob Safai and Lynwood Fields of Madison Partnersin an off-market transaction. Safai also participated in arrangingfunding for the deal.
The buildings, which occupy nearly 11 acres of leased land, werebuilt in the early 1980s. The 9301 Corbin Ave. building is due tobe vacated soon by by Washington Mutual.
Fields calls the property "a rare value-added opportunity for asavvy buyer," especially considering the strong San Fernando Valleyoffice market. The deal is one of two recently closed value-addedtransactions brokered by Madison Partners, which also arranged the$19.8 million sale of a three-parcel Hollywood infill developmentsite just west of the junction of Hollywood Boulevard and WesternAvenue.
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