{"id":1004145790,"date":"2016-06-10T02:51:34","date_gmt":"2016-06-10T10:51:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145790"},"modified":"2020-04-28T03:45:26","modified_gmt":"2020-04-28T11:45:26","slug":"downtown-la-office-property-commands-210m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/","title":{"rendered":"Downtown LA Office Property Commands $210M"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/p>\n

\"Garland<\/a>

Garland Center in Downtown Los Angeles<\/p><\/div>\n

Los Angeles\u2014<\/strong>A joint venture between H.I.G. Realty Partners<\/a>, Silverpeak Real Estate<\/a> Partners, and Rising Realty<\/a> Partners has acquired The Garland Center, a 733,000-square-foot office building and data center in downtown Los Angeles, for a price the Real Deal reported as $210 million.\u00a0The acquisition also included a detached 1,600-spot parking structure.<\/p>\n

\u201cThe Garland Center serves a unique niche in the Downtown Los Angeles submarket for tenants that appreciate the large floor plates, unrivaled connectivity, above standard power and cooling infrastructure, efficient parking, and proximity to the 7th Street\/Metro Center station,\u201d Christopher Rising, Rising\u2019s president, said in a prepared release. \u201cWe intend to bring our expertise in new technologies, through our 5×5 Telecom subsidiary, to this asset, which is already well positioned to serve Telecom and Internet Service Providers experiencing tremendous growth from increased demand for more connectivity and data storage<\/a>.\u201d<\/p>\n

Located on 7th Street just west of the 110 Freeway in Downtown Los Angeles, The Garland Center was originally built in 1983 as an operations center for First Interstate Bank. The building consists of nine stories of office space<\/a> and three stories of subterranean, purpose-built data center space.<\/p>\n

\u201cThis property represents a unique opportunity to capitalize on the increasing global demand for CBD data center space,\u201d David Hirschberg, H.I.G. Realty Partners\u2019 co-head, said. \u201cWe look forward to leveraging H.I.G. Realty Partners\u2019 real estate expertise and knowledge in the data center space to enhance the execution of the value-add business plan.\u201d<\/p>\n

Downtown L.A. has seen significant new housing, office, and retail development<\/a> over the past few years. According to Colliers\u2019 Q1 2016 Los Angeles Office Report, the Downtown market started 2016 with 531,000 square feet of leasing activity and the total overall vacancy rate decreased to 17.5 percent from 17.9 percent the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Three private investors team up to buy the 733,000-square-foot, Class A office building and data center.<\/p>\n","protected":false},"author":451,"featured_media":1004145792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21743,21808,1594,21742,21747,15],"tags":[],"class_list":["post-1004145790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-deals","category-featured","category-los-angeles","category-latest","category-office","category-west"],"acf":[],"yoast_head":"\nDowntown LA Office Property Commands $210M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Downtown LA Office Property Commands $210M\" \/>\n<meta property=\"og:description\" content=\"Three private investors team up to buy the 733,000-square-foot, Class A office building and data center.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-10T10:51:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T11:45:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/\",\"name\":\"Downtown LA Office Property Commands $210M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg\",\"datePublished\":\"2016-06-10T10:51:34+00:00\",\"dateModified\":\"2020-04-28T11:45:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg\",\"width\":640,\"height\":512,\"caption\":\"Garland Center in Downtown Los Angeles\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Downtown LA Office Property Commands $210M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Downtown LA Office Property Commands $210M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/","og_locale":"en_US","og_type":"article","og_title":"Downtown LA Office Property Commands $210M","og_description":"Three private investors team up to buy the 733,000-square-foot, Class A office building and data center.","og_url":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-06-10T10:51:34+00:00","article_modified_time":"2020-04-28T11:45:26+00:00","og_image":[{"width":640,"height":512,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg","type":"image\/jpeg"}],"author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/","url":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/","name":"Downtown LA Office Property Commands $210M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg","datePublished":"2016-06-10T10:51:34+00:00","dateModified":"2020-04-28T11:45:26+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg","width":640,"height":512,"caption":"Garland Center in Downtown Los Angeles"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/downtown-la-office-property-commands-210m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Downtown LA Office Property Commands $210M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Garland-Center-in-Downtown-Los-Angeles.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004145790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004145790"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004145790\/revisions"}],"predecessor-version":[{"id":1004426491,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004145790\/revisions\/1004426491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004145792"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004145790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004145790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004145790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}