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Friday, Jun 2, 2023

Media Center Building Fetches $13.5 Million

A 64,820-square-foot building in the LA Media Tech Center campus has sold for $13.5 million. Building seven on the massive campus, which sits just south of the Glendale (2) freeway in Los Angeles, was bought by the Oddo Family Trust of Anaheim. The building at 2714 Media Center Drive was constructed in 2001 and is fully leased to the City of Los Angeles Bureau of Sanitation. The sale was announced Tuesday though it closed last month. Chad Gahr, a senior vice president at the Encino office of NAI Capital Inc. who represented the seller, 2714 Media Center LLC, said the building was taken to market unpriced because of high demand. “The building’s location within one of Los Angeles’ premier flex-office business parks, combined with a long history of tenancy by a government entity, generated strong demand for the asset from investors all over the country,” he said in a statement. The seller was also represented by David Young, senior vice president at NAI capital, and Lynwood Fields, partner at Madison Partners in Los Angeles.

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