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Vacant Culver City Offices Trade to Owner-Occupier
Newmark arranged the sale of 5995 Sepulveda, a vacant 27,090-square-foot office building located in Culver City. The asset sold for an undisclosed amount.
Co-head of U.S. capital markets Kevin Shannon, vice chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll and executive managing directors Steve Kolsky and Greg Frankovich represented the undisclosed seller in the sale to a private investor, who purchased the asset for occupancy.
“The sale of 5995 Sepulveda to a user exemplifies a growing trend of owner-user acquisitions in the market,” said Stumm. “The buyer, who will be moving its headquarters to the building, was drawn to the asset’s central westside location, freeway adjacency and improved interiors.”
5995 Sepulveda is a newly renovated creative office project. The property features a landscaped outdoor seating area and 24/7 onsite security and access control.
- ◦Sale/Acquisition
