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Vacant West LA R&D/Flex Property Has New Owner
Colliers arranged the sale of a 57,868-square-foot R&D/flex building in Culver City. Senior EVP Steve Solomon and VP Kristen Bowman marketed the property and led the acquisition process on behalf of the seller, Rialto Capital, and the buyer, Montana Avenue Capital Partners. Known as Campus 56, the two-story, two-building campus at 5600-5650 W. Centinela Ave. sold for $14,850,000.
“This is a rare acquisition of a campus in West Los Angeles that was vacant at the time of the transaction,” said Solomon. “Designed as collaborative, open co-working spaces, ideal for the hub of technology, entertainment, and media companies flourishing in the area, the buyer has plans to find an innovation-focused tenant seeking flexible space, perhaps to serve as a headquarters, in a lively neighborhood.”
The location is conducive to work-life balance, according to Colliers, with proximity to local amenities and major transportation routes, including Interstate 405 and La Cienega Boulevard.
- ◦Sale/Acquisition
