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6/11/12
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Alliance Commercial Partners has purchased the discounted note securing roughly half the space at the LA Media Tech Center in Los Angeles. The sale consists of four, two-story buildings, totaling 187.5k sf of space situated on 12.59 acres of land at 2702, 2705, 2709 and 2710 Media Center Dr.
Located just south of Glendale near the junction of the Glendale (2) and Golden State (5) freeways, LA Media Tech Center consists of seven buildings totaling 400k sf of space. The property offers a gated and security patrolled office campus setting with 4 / 1,000 free parking. Tenants include Chubb Insurance, JP Morgan Chase and Coram Healthcare (Apria).
Lynwood Fields of Madison Partners, along with David Young and Chad Gahr of NAI Capital, represented Alliance in acquisition. NAI Capital will retain the leasing assignment for the portfolio. Fields noted that the property offers space at prices far below competing office buildings in the Los Angeles, Tri-Cities and San Fernando Valley and is still convenient to all three markets.
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