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Equity Office Divests Gateway Towers for $106M
Gateway Towers, a 443,517-square-foot Class A office property in Los Angeles, has been sold for $106.25 million. The seller was Equity Office Properties, while the buyer was The Ruth Group along with Roxborough Group as its capital partner.
The 91%-leased property is located at 970 and 990 190th St., and anchored by Herbalife International of America, which recently executed a 16-year renewal.
NKF’s Kevin Shannon, Ken White, Scott Schumacher and Guillermo Boisson represented the seller. NKF’s David Milestone and Brett Green represented the buyer in securing debt financing.
“The Ruth Group plans to develop the land parcel located between the towers with cool restaurant amenity spaces as well as creative office. The project and the immediate area are ripe for these amenities which will create a unique competitive advantage for Gateway Towers,” said Schumacher.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


