Newmark facilitated the $150.7-million sale of i|o at Playa Vista, a 306,809-square-foot creative workplace campus in Playa Vista. The buyer was Barings.

Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the seller, Clarion Partners. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process.

“The response from institutional investors for i|o at Playa Vista was exceptionally strong — a clear sign that institutional capital is re-engaging in the office sector,” said Shannon. “The managed bid process was highly competitive which speaks to a broader sense of recovery in the capital markets for quality office product.”

The two-building, mixed-use campus, delivered in 2010 and completely redesigned by Gensler in 2016, has maintained an average occupancy level of over 90% since the redesign.

On June 18, join industry-leading experts when they explore the most important topics in today’s CRE markets. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. The 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown.