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United States : NKF Completes $148 Million Sale of 800 Corporate Pointe, a 245,786-Square-Foot Class A Office Building in Culver City, CA.

Newmark Knight Frank (NKF) has completed the $148 million sale of 800 Corporate Pointe, a four-story 245,786-square-foot Class A office building in the lower Westside market of Culver City, CA.

NKF's Capital Markets President, West Coast Kevin Shannon, Executive Managing Director Ken White, Senior Managing Director Rob Hannan, and Managing Directors Michael Moll and Laura Stumm represented the seller, Vornado Realty Trust. The buyer, Northwood Investors, was self-represented. NKF's Executive Managing Director David Milestone and Managing Director Brett Green arranged the financing on behalf of the buyer.

Developed in 2007, 800 Corporate Pointe is LEED Gold certified and includes an adjacent six-level parking structure. The property was 98 percent occupied at the close of escrow and features six strong tenants spanning the financial services, media, technology and engineering industries. It is situated at the junction of the 405 Freeway and Highway 90 and offers an array of nearby amenities including Westfield Culver City Mall, Runway at Playa Vista and downtown Culver City.

"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," said Shannon. "The property enjoys a strong tenant roster with attractive returns augmented by its ownership of the parking structure for the adjacent building."

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Publication:Mena Report
Geographic Code:1U9CA
Date:Oct 12, 2017
Words:241
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