PUNCH PURCHASES OFFICE BUILDING WITH PLANS TO EXPAND

CULVER CITY, CALIF — Punch Studio has acquired a 41,000-square-foot office building, located at 6025 Slauson Ave. within Playa Corporate Center in Culver City, for $10.8 million. The Klabin Company’s Ron Rader and Doug Marshall represented the buyer in the transaction, and CB Richard Ellis’ Stan Gerlach, Jeff Pion, Bryan Dunne and Michelle Esquivel-Hart represented the undisclosed sellers. Punch Studio, a manufacturer of gift and stationery items, plans to connect the two-story office building to the company’s existing office and warehouse facility next door with the addition of a new wing, which will increase the total property to approximately 140,000 square feet when completed in late 2011.