{"id":1004128178,"date":"2015-09-25T05:58:32","date_gmt":"2015-09-25T13:58:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=361968"},"modified":"2020-04-23T00:57:43","modified_gmt":"2020-04-23T08:57:43","slug":"lax-submarket-reaches-new-high","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lax-submarket-reaches-new-high\/","title":{"rendered":"LAX Submarket Reaches New High"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<p><a href=\"https:\/\/global.cushmanwakefield.com\/en\/\" target=\"_blank\" rel=\"nofollow\"><strong>Cushman &amp; Wakefield<\/strong><\/a> assisted with the sale of Airport Spectrum, a 500,000-square-foot office campus located at the Gateway to LAX. Marc Renard, Manfred Schaub and Chris Sinfield, with the firm&#8217;s Capital Markets Group, acted on behalf of the seller\u00a0<a href=\"https:\/\/www.decronproperties.com\/\" target=\"_blank\" rel=\"nofollow\"><strong>Decron Properties Corp<\/strong><\/a>. The asset was acquired by Sunny Hills Management Company Inc. for $61.25 million.<\/p>\n<div id=\"attachment_361969\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Airport-Spectrum.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-361969\" title=\"Airport Spectrum\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Airport-Spectrum.jpg\" alt=\"Airport Spectrum\" width=\"300\" height=\"199\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Airport Spectrum<\/p>\n<\/div>\n<p>Built in 1980, the office campus has been under Decron\u2019s ownership since 2000. After investing more than $6 million in capital improvements, Decron managed to raise the asset&#8217;s occupancy from 30 to 75 percent.<\/p>\n<p>\u201cOur goal was to reposition this asset and introduce a true Class A office environment for businesses that needed to operate adjacent to LAX,\u201d David Nagel, CEO of Decron Properties Corp., said. \u201cAirport Spectrum is now a leading office building in the submarket, consistently outperforming its peers on all levels.\u201d<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A brokerage firm has shown off its expertise, having recently assisted in the largest LAX submarket office sale in over a decade.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[682],"class_list":["post-1004128178","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest","tag-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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