{"id":1004657143,"date":"2023-04-13T04:02:22","date_gmt":"2023-04-13T12:02:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004657143"},"modified":"2023-04-14T05:51:27","modified_gmt":"2023-04-14T13:51:27","slug":"gi-partners-pays-211m-for-los-angeles-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gi-partners-pays-211m-for-los-angeles-asset\/","title":{"rendered":"GI Partners Pays $211M for Los Angeles Asset"},"content":{"rendered":"
\"\"<\/a>

12800 Culver Blvd. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

GI Partners<\/strong> has paid $211 million for 12800 Culver Blvd., a 185,315-square-foot facility in Los Angeles, public records show. The firm acquired the asset on behalf of its Essential Tech + Science Fund.<\/p>\n

The previous owner was AT&T<\/strong>, which purchased the asset in 2010 for $6.5 million, according to CommercialEdge information. CBRE Capital Markets<\/strong> represented the seller in the deal.<\/p>\n

The ETS fund launched in 2021 and, since that time, has purchased 20 properties across the U.S., focusing on data centers and life science assets.<\/p>\n

In one of its more recent investment deals, the fund acquired four life science properties<\/a> totaling more than 407,000 square feet in Cambridge, Mass., South San Francisco and San Carlos, Calif. The fund’s life science portfolio also includes Mt. Eden Research Park<\/a> in Hayward, Calif., and 3701 Market St<\/a>. in Philadelphia.<\/p>\n

The newly purchased Los Angeles asset<\/h2>\n

Completed in 1968 on a 13-acre site, the facility served as a broadcast center for AT&T and DirecTV, its subsidiary. The property features large-scale data storage and high-capacity digital content distribution capabilities that include advanced electrical and mechanical equipment, satellite arrays and extensive fiber connectivity.<\/p>\n

Located in the Marina Del Rey submarket, the property is roughly 17 miles from downtown Los Angeles, having direct access to Interstate 405. Los Angeles International Airport is less than 5 miles south.<\/p>\n","protected":false},"excerpt":{"rendered":"

AT&T sold the digital TV broadcasting facility.<\/p>\n","protected":false},"author":3154,"featured_media":1004657146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1594,21742,15],"tags":[35046,51978,33309],"class_list":["post-1004657143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-cbre-capital-markets","tag-directv","tag-gi-partners"],"acf":[],"yoast_head":"\nGI Partners Pays $211M for Los Angeles Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"GI Partners has paid $211 million for 12800 Culver Blvd., a 185,315-square-foot facility in Los Angeles. 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