The properties are a 13-story building with 283,000 sf at 801 North Brand Blvd. and an eight-story structure with 131,000 sf at 700 North Central Ave.
The buyer secured $52 million in financing from BMO Financial Group for its purchase.
fully leased to DreamWorks, a producer of animated films, which had signed a 20-year triple-net lease for its space. It has options to extend its lease by up to four additional five-year terms.
76 percent leased. Mesa West Capital had provided $24.5 million of financing to fund the Morgan Stanley/Lincoln purchase and leasing costs.
88 percent leased. The buyer used a $94 million loan, from JPMorgan, to facilitate its purchase. The five-year loan pays only interest for the life of its term.
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© 2023 Commercial Real Estate Direct All rights reserved..