Mount Sinai to Close Beth Israel Campus After Decline in Patient CountĪpollo Lends $90M on Brooklyn Retail Property Anchored by Whole Foods New York City Offering Some Wiggle Room for Local Law 97 Compliance Money Never Sleeps: Newmark Is Aiming for the Capital Markets Crown It’s adjacent to the Oracle Santa Monica Hub and near offices for companies such as Yahoo, CBS, Hulu and Universal Music Group. GoodRx, known for its app for tracking pharmaceutical deals, has its 130,000-square-foot headquarters at the Pen Factory, which previously housed the Papermate pen manufacturing facility. Īctivision Publishing moved its headquarters to the Pen Factory via a sublease deal with Kite Pharma for nearly 90,000 square feet.
The deal for Pen Factory comes in more than three times above the average sales price of $231 per square foot in Greater Los Angeles so far this year, according to data from CommercialEdge. Īn institutional player like JPMorgan putting down nine figures for office space is an encouraging sign for a market watching its property values plummet and overall sales volume recede. CalSTRS had been asking $180 million for the property at 2701 Olympic Boulevard. Representatives for JPMorgan declined to comment. Another source familiar with the deal confirmed the sale but did not disclose the sales price. One source told CO that JPMorgan agreed to pay the owner - the California State Teachers’ Retirement System (CalSTRS) - approximately $165.5 million, or roughly $745 per square foot, for the 222,000-square-foot Pen Factory property.
0 kommentar(er)
