Electronics components distributor Avnet Inc. has sold its 150,000-square-foot Culver City office campus and signed a lease to relocate to 63,000 square feet of office space in the "Herbalife Building" along the San Diego (405) Freeway in Inglewood.
New York-based Avnet's soon-to-be vacated campus in Culver City includes a three-story office building and a one-story office/R & D; building at 10950 Washington Blvd. The buyer is a limited liability company called Ten 9 Fifty LLC, which is affiliated with Angelo Gordon & Co. in New York.
Avnet waited to sell the property until the local commercial real estate market started to rebound from its long slump, said Julien J. Studley Inc., the brokerage that represented Avnet in its sale and lease negotiations.
No price was disclosed in connection with the sale of the Culver City property. Koll Brokerage Services represented the buyer.
TrizecHahn Office Properties, owner of the Herbalife tower at 9800 La Cienega Blvd., negotiated the lease transaction in-house.
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