Los Angeles, CA –– NAI Capital Commercial is pleased to announce that Executive Vice President Michael Arnold and Senior Associate Tom Sexton with NAI Capital Commercial’s Tenant Consulting Group completed the acquisition of a 3-story office building totaling 24,317 square feet in Brentwood, California. Michael and Tom represented the buyer, 11400 San Vicente LLC, in the transaction. The seller, SJF San Vicente/HSB San Vicente, was represented by Jones Lang LaSalle. The sale price totaled $19,000,000 or $781 per square foot.
The office building is located at 11440 San Vicente Boulevard, within the Westside’s prestigious Brentwood office submarket. The building features approximately 8,000 square foot floor plates. With a Walk Score of 89 the building is in a great Brentwood neighborhood location on San Vicente Boulevard. Tenants can walk to a multitude of restaurants, entertainment, and retail shops. The property also has excellent proximity to public transportation and freeway access.
At the time of the sale, the building was partially vacant. The new owner plans to occupy a portion of the building for their business and lease out the reminder.
Michael said, “This was an outstanding opportunity to purchase an office building in Brentwood with limited product available, in place income and a value add opportunity for my partial owner user client.” Michael added, “My client is extremely pleased with their acquisition of this asset. Rarely do office buildings on San Vicente Boulevard come up for sale.”
“Brentwood is one of the most sought after submarkets on the Westside. Office buildings in this size range for sale are in short supply,” commented Tom.
About NAI Capital Commercial
NAI Capital Commercial is the largest agent and employee owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,000 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first.
