Culver City Office Sold for $148M

Northwood Investors has acquired 800 Corporate Pointe, a four-story, 245,786-square-foot Class A office building in Culver City for $148 million, according to broker Newmark Knight Frank.The price was $602 a square foot for the building, which the seller, Vornado Realty Trust in New York, acquired in 2012 for $95.7 million, or $112 a square foot, as part of a two-property portfolio, according to CoStar data. New York-based Newmark Knight Frank represented Vornado. Denver-based Northwood Investors was self-represented. The property, which opened in 2007, was 98 percent occupied at the close of escrow and has six tenants spanning the financial services, media, technology and engineering industries, according to NKF.

– Neil Nisperos

For reprint and licensing requests for this article, CLICK HERE.