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LOS ANGELES — A joint venture between Stanton Road Capital and Second City has purchased an 89,000-square-foot office property in the Los Angeles submarket of El Segundo for $35.5 million. The building is located at 898 Sepulveda Blvd.
The office space is 98 percent leased. The property includes a six-level parking structure that is leased to Central Parking.
The building was constructed in 1979 and renovated in 2000. The JV plans to enhance the building, provide creative office space and extend the parking garage’s master lease.
NKF’s Kevin Shannon, Ken White and Michael Moore represented the seller, TA Associates, in this transaction. The firm also arranged financing on behalf of the buyer.