JOINT VENTURE BUYS 52,000-SQUARE-FOOT DISTRESSED L.A. COUNTY OFFICE BLDG.

CALABASAS, CALIF. — PCCP LLC and Dallas-based Lincoln Property Co. have acquired a two-story, 51,654-square-foot suburban office building located within Calabasas Corporate Center in Calabasas. Built in 2008 and only about a 20-minute drive from Malibu, the vacant, newly constructed Class A building includes two levels of parking. The joint venture purchased the property in an off-market, short-sale transaction involving the existing construction lender.