{"id":1004193717,"date":"2017-10-13T04:54:24","date_gmt":"2017-10-13T12:54:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193717"},"modified":"2022-12-07T21:32:30","modified_gmt":"2022-12-08T05:32:30","slug":"vornado-sells-la-office-asset-for-148m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vornado-sells-la-office-asset-for-148m\/","title":{"rendered":"Vornado Sells LA Office Asset for $148M"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004193731\" style=\"width: 402px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004193731\" data-attachment-id=\"1004193731\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vornado-sells-la-office-asset-for-148m\/800-corporate-pointe\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC330&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1472581963&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.61&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0010526315789474&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"800 Corporate Pointe\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;800 Corporate Pointe&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg?w=800\" class=\"wp-image-1004193731 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg\" alt=\"800 Corporate Pointe\" width=\"392\" height=\"305\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/800-Corporate-Pointe.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 392px) 100vw, 392px\" \/><\/a><p id=\"caption-attachment-1004193731\" class=\"wp-caption-text\">800 Corporate Pointe<\/p><\/div>\n<p>Northwood Investors purchased 800 Corporate Pointe, a Class A office building in the lower Westside market of Culver City, Calif. Vornado Realty Trust sold the asset for $148 million. In March, Northwood also purchased\u00a0the\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-nabs-charlottes-ballantyne-corporate-park\/\">Ballantyne Corporate Park\u00a0in Charlotte<\/a>, N.C.<\/p>\n<p>NKF&#8217;s Capital Markets\u00a0West Coast President\u00a0Kevin Shannon, Executive Managing Director\u00a0Ken White, Senior Managing Director\u00a0Rob Hannan\u00a0and Managing Directors\u00a0Michael Moll\u00a0and\u00a0Laura Stumm\u00a0represented the seller. The buyer represented itself and\u00a0NKF&#8217;s Executive Managing Director\u00a0David Milestone\u00a0and Managing Director\u00a0Brett Green\u00a0arranged the financing on behalf of Northwood.<\/p>\n<h2>Evolving\u00a0Location\u00a0<\/h2>\n<p>The four-story, 245,786-square-foot building is LEED Gold certified and includes a six-level parking structure. Built in 2007, the property was 98 percent occupied at the time of sale and houses six tenants across the financial services, media, technology and engineering industries. Situated at the junction of the 405 Freeway and Highway 90, the property is within close proximity to the Westfield Culver City Mall, Runway at Playa Vista and downtown.\u00a0<\/p>\n<p><em>&#8220;800 Corporate Pointe is one of the two newest and one of the best office buildings in this evolving Culver Pointe Park. Culver City is drafting off the momentum from Playa Vista and is attracting similar profile tenants seeking cool environments,&#8221;<\/em> said Shannon in prepared remarks. <em>&#8220;The property enjoys a strong tenant roster with attractive returns augmented by its ownership of the parking structure for the adjacent building.&#8221; <\/em><\/p>\n<p><em>Image courtesy of NKF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company sold 800 Corporate Pointe, a four-story, 245,786-square-foot building in Culver City, Calif., to Northwood Investors. NKF&#8217;s Capital Markets team represented the seller in the transaction. <\/p>\n","protected":false},"author":746,"featured_media":1004193731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[32779,36007,34258,33030],"class_list":["post-1004193717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west","tag-leed","tag-newmark-knight-frank","tag-northwood-investors","tag-vornado-realty-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vornado Sells LA Office Asset for $148M - 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\/vornado-sells-la-office-asset-for-148m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vornado Sells LA Office Asset for $148M\" \/>\n<meta property=\"og:description\" content=\"The company sold 800 Corporate Pointe, a four-story, 245,786-square-foot building in Culver City, Calif., to Northwood Investors. 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