Boston-based Beacon Capital Partners has purchased two office buildings at 5220 and 5230 Pacific Concourse Drive in Los Angeles, near the 405 and 105 freeway interchange, from LBA Realty of Irvine for $42.5 million or $263 per square foot, according to sources close to the deal.
The two buildings comprise more than 161,000 square feet of office space on 7.7 acres of land.
Each structure was built in 1989 and is located near Los Angeles International Airport, close to the Los Angeles Metropolitan Transportation Authority Green Line’s Aviation/LAX station.
Last year, Beacon Capital Partners sold One California Plaza at 300 S. Grand Ave. in downtown Los Angeles to Rising Realty Partners and Colony Northstar Inc. for $459 million.
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Eight-Building Industrial Property Sold in Hawthorne for $27.6M
- WeWork to Open First El Segundo Location
- City Approves South L.A. Site for LACMA Exhibition Space
- Westwood Terrace Office Building to be Acquired for $93M
- Hudson Pacific Properties, Macerich to Redevelop Westside Pavilion
- Compton Retail Property Acquired for $85.5 Million
- WeWork Leasing Two Floors at One Culver in Culver City
- Compton Retail Sells for $85.5 Million