PUBLICATION: THE REAL DEAL LA
JH Snyder sold 202K sf building in North Hollywood
UPDATED, Sept. 8, 1:33 p.m.: DivcoWest has added a fourth property to its Los Angeles County office portfolio — this one a 200,000-square-foot complex in North Hollywood’s Arts District, The Real Deal has learned.
In a joint venture, DivcoWest and GPI Companies paid $92 million for the building at 5250 Lankershim Avenue, sources told The Real Deal. DivcoWest declined to comment on the transaction. Seller J.H. Snyder Company did not respond to requests for comment.
J.H. Snyder bought the glass complex from the City of Los Angeles’ Community Redevelopment Agency in 2008, records show. Kaiser Permanente and co-working firm Regus both occupy space there.
The acquisition is something of a departure for DivcoWest, which has sold a number of office properties across L.A. County in recent years. In the spring, the firm said it would spend $250 million to acquire single-family rental homes across Western U.S. states, in a partnership with Atlas Real Estate…READ MORE