In one of the biggest real estate deals in Los Angeles in years, the asset management arm of JPMorgan Chase & Co. has agreed to pay about $300 million for a large office development in Playa Vista that is leased by Fox Interactive Media, according to multiple sources with knowledge of the transaction.
The sale of the 501,000-square-foot, two-building complex at 12121 and 12181 Bluff Creek Drive by Lincoln Property Co. and ASB Real Estate Investments breaks down to about $599 per square foot.
The deal for the property, called the Horizon at Playa Vista and located in the recently developed office portion of the Playa Vista community, is expected to close next week. Buyer JPMorgan Asset Management – Real Estate also owns 2000 Avenue of the Stars, CAA’s Century City headquarters.
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