Jul
11
Credit Suisse Snags LA Office Building
ByThe Swiss company paid $59 million to acquire the Class A property in Glendale, Calif., from a joint venture between Lincoln Property Co. and Morgan Stanley.
Credit Suisse has acquired an eight-story, Class A creative office building in Glendale, Calif., from a joint venture between Lincoln Property Co. and Morgan Stanley, for $59 million.
Newmark Knight Frank represented the sellers in the transaction. The buyer was self-represented. The sellers originally purchased the property in 2013 for $23 million.
“This is the newest office building in the Glendale market that also has a very cool, creative flair,” Kevin Shannon, NKF’s capital markets president, West Coast, told Commercial Property Executive. “It is clearly a best-in-class asset for the market. Lincoln did a great job positioning the building.”…
