Wells buys LA building.Wells Real Estate Investment Trust II, Inc. has completed the purchase Of: Manhattan Towers; two Class-A office buildings totaling 310,000 s/f, located in Manhattan Beach, California Manhattan Beach is a city located in southwestern Los Angeles County, California, USA. The population was 33,852 at the 2000 census. Of a rotating City Council of five members, Jim Aldinger is the current mayor. : just outside Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Terms were not disclosed.The six-story multitenant buildings are 97% occupied by a high-quality, diversified diversified (di·verˑ·s business base. Major tenants include Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Space Technology and Mission Systems sectors, a subsidiary Of Northrop Grumman Corporation, which occupies 76% of the building on a long-term lease. "This is one of the highest quality and best located office buildings in the El Segundo/Manhattan Beach market," said David Steinwedell, Chief Investment Officer with Wells Real Estate Funds. |
|
|||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion