X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES—Harbor Associates just closed what my be the best deal in Century City. In a joint venture with Stockbridge Capital Group, the office investor purchased a 33,000-square-foot office building for $14.7 million, one of the lowest prices-per-square foot in the last 24 months. The distressed asset will get a full renovation and will bring creative style office space to the typically traditional, high-rise submarket.

“From a location standpoint, this is an A-plus. You are in the heart of Century City on a very highly trafficked street, right next to Fox Studios,” Joon Choi, a principal at Harbor Associates, tells GlobeSt.com. “We loved the location. In terms of the opportunity, we think that this is a great buying opportunity because the buyer was going through a situation where they needed to sell the asset. We were able to get it at a very compelling basis.”

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?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt

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

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.