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7/02/14
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Clarion Partners has acquired Latitude 34 at Playa Vista, a 301.6k sf office complex in the heart of the Playa Vista master-planned community in West Los Angeles. The six-story, two-building property, located at 12130 and 12180 Millennium, was sold by ASB Real Estate Investments. The property, which was vacant at the time of sale, traded for around $132 mil ($438/sf).
Latitude 34 at Playa Vista offers efficient floor plates up to 40k sf, floor-to-ceiling glass, slab-to-slab heights of 14’ to 15’ (20’ on the ground floor), fiber optic telecommunications and abundant outdoor spaces. The building also is near to major transportation corridors in Los Angeles and LAX.
Clarion Partners has retained Lincoln Property Company to handle management of the property while L.A. Realty Partners has been given the leasing assignment. Architecture/design firm Gensler is overseeing capital improvements and the creation of spec suites at the property. New landscaping was managed by Valley Crest Landscape.
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