Airport adjacent.

A 13-story Inglewood office building near Los Angeles International Airport has been put up for sale.

Namco Capital Group Inc. has listed a 244,000-square-foot office property with 680 parking spaces at 9920 S. La Cienega Blvd., next to the San Diego (405) Freeway.

An asking price hasn't been listed. For comparison, David Lee's Jamison Properties Inc. paid $71 million in September for a 700,000-square-foot portfolio of LAX-adjacent office buildings.

At a similar price of $101.50 a foot, the Inglewood building would fetch about $25 million.

However, at the time of the transaction, Lee said buying the buildings made sense as a parking play because of the property's proximity to LAX.

Namco's building likely wouldn't have the same advantage.

While the South Bay has begun to rebound recently, the submarket--which includes LAX--continues to be one of the poorer performing areas in L.A. County.

At the end of March, the South Bay's vacancy rate was nearly 50 percent higher than the county average and asking rents were more than 20 percent lower than the county average.

Despite those figures, value-add buyers have been snatching-up South Bay properties in the hope that the region will see significant gains as nearby markets fill-up. Namco has hired Madison Partners' Safai to market the property.