Family Property Holdings And NCP Imperial Acquires Norwalk Office Building For $26M

The office property located at 12501 Imperial Highway in Los Angeles has been sold for $26,000,000. Spanning 122,000 square feet, the glass facade building is situated in the Norwalk market. The price per square foot for this transaction amounts to $213. The property is 97 percent leased to tenants, including Kaiser Permanente and the California New Business Bureau. The previous sale of the property took place in December 2004 for $14.2 million, according to property records.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $26,000,000
• Address: 12501 Imperial Highway, Los Angeles
• Market: Norwalk
• Square Footage: 122,000
• Price per Square Foot: $213

The sale transaction was facilitated by the seller, BSREP Socal Norwalk - Brookfield Asset Management, represented by Ric Clark. The buyer in this deal was Family Property Holdings and NCP Imperial. Preferred Bank provided an $18 million loan for this transaction. The office building is prominently located on the corner of Imperial Highway and Bloomfield Avenue.