EL SEGUNDO, CA-GlobeSt.com has learned exclusively that athree-story office building at 2100 ParkPlace here has been sold by California CommunityFoundation, the public foundation for Los Angeles County,for $24,750,000. The price equates to $238 per square foot for the103,895-rentable-square-foot property.
Michael Lawrence, a SVP, investments, inMarcus & Millichap’s Newport Beach office, andJoshua Cohen, a VP, investments, in the firm’sLong Beach office, represented the seller.
“The property is 100% leased to two well-known financialinstitutions: Kinecta Federal Credit Union andCity National Bank,” says Lawrence. “Starting dayone, the new owner is well positioned to enjoy a strong return froma relatively low-maintenance investment.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
