Sale Marks First Time USC Building is on the Market
Seller Doheny Eye Institute recently sold the 75,272-square-foot four-story life science building within the University of Southern California (USC) Health Science campus. The building sold to USC for $57 million, a sale that bolsters the university’s life science portfolio.
Located at 1355 San Pablo St. in downtown Los Angeles adjacent to the USC Norris hospital, the facility also houses 14,071 square feet of lab space.
Corion Properties and Newmark were the brokers for Doheny, and USC was represented by CBRE in the transaction. Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) represented the seller.
According to David Swartz, the CGS3 partner who handled the deal, the building served as the life science headquarters for Doheny for more than 45 years and was constructed in 1976 for the institute, a nonprofit at the forefront of vision science.
“This was the last remaining building on campus not owned by USC, and its sale marks the first time the building has been on the market since it was constructed,” Swartz said.
Doheny is moving its headquarters to 150 North Orange Grove Blvd. in Pasadena.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.