{"id":1004147211,"date":"2016-07-05T01:11:38","date_gmt":"2016-07-05T09:11:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004147211"},"modified":"2020-05-18T12:56:32","modified_gmt":"2020-05-18T20:56:32","slug":"west-la-office-campus-commands-135m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/west-la-office-campus-commands-135m\/","title":{"rendered":"West LA Office Campus Commands $135M"},"content":{"rendered":"

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

\"Wateridge,<\/a>

Wateridge, Los Angeles<\/p><\/div>\n

Los Angeles<\/strong>\u2014LPC Realty Advisors I, an affiliate of Lincoln Property Co.,<\/a> has acquired Wateridge\u2014a six-building Class A office campus in the heart of West Los Angeles, on behalf of a public pension fund client, for a reported $135.3 million.<\/p>\n

The campus totals more than half a million square feet and boasts a tenant roster that includes Kaiser Permanente, the L.A. County Department of Children and Family Services and Evolve Media.<\/p>\n

\u201cOffice campuses on L.A.\u2019s Westside are increasingly hard to come by,\u201d Stephen Lindgren, Lincoln Property director of finance, told Commercial Property Executive<\/a><\/em>. \u201cThe Wateridge campus is quite large, and we were attracted to the fact that it has both office and retail components across its six buildings. It was a unique opportunity and a great fit for Lincoln.\u201d<\/p>\n

The property also incorporates a multi-tenant retail building and a standalone 24 Hour Fitness, offering a convenient, state-of-the-art fitness facility right on campus.<\/p>\n

Constructed in phases beginning in 1989, the property has since become a campus-style, multi-tenant facility boasting lush landscaping and a diverse mix of office and retail tenants. Situated on 21 acres on the corner of La Cienega Boulevard and Slauson Avenue, Wateridge offers easy access to the Westside and South Bay submarkets, as well as the LAX airport via the 405 and 10 freeways. Playa Vista and Culver City, areas that have recently welcomed a number of growing media, entertainment and technology tenants, neighbor the property.<\/p>\n

\u201cWateridge is already a very desirable property in an area that has seen an influx of office tenants in recent years,\u201d Lindgren said. \u201cWith more than a half-million square feet of office space, we think the property will help meet demand for high-quality office space on the Westside, especially after we complete the light upgrades we have planned.\u201d<\/p>\n

Those planned upgrades include adding improved wayfinding signage, enhanced lighting, furniture, fixtures and equipment, as well as implementing a white box and spec suite program. Lincoln also plans to renovate the existing retail building.<\/p>\n

\u201cWe\u2019ve had great success adding value to well-located and highly compelling properties like Wateridge, so this acquisition was certainly in line with our strategy,\u201d Lindgren said. \u201cLincoln\u2019s Southern California arm has a substantial local presence and history in L.A., and we\u2019re pleased to add such a fantastic property to our portfolio.\u201d<\/p>\n

Image courtesy of Yardi Matrix<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new buyer plans to invest in light upgrades at the 21-acre office complex.<\/p>\n","protected":false},"author":451,"featured_media":1004147255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,1594,21742,21747,15],"tags":[],"class_list":["post-1004147211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-los-angeles","category-latest","category-office","category-west"],"acf":[],"yoast_head":"\nWest LA Office Campus Commands $135M - 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\/west-la-office-campus-commands-135m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"West LA Office Campus Commands $135M\" \/>\n<meta property=\"og:description\" content=\"The new buyer plans to invest in light upgrades at the 21-acre office complex.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/west-la-office-campus-commands-135m\/\" \/>\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=\"2016-07-05T09:11:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T20:56:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/wateridge2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"826\" \/>\n\t<meta property=\"og:image:height\" content=\"664\" \/>\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\/west-la-office-campus-commands-135m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/west-la-office-campus-commands-135m\/\",\"name\":\"West LA Office Campus Commands $135M - 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