Steve Elson And Brad Pennington Of Alta West Partners Acquire Office Campus In Los Angeles For $19M

The property involved in this transaction is an office asset located at 450 American Street in Los Angeles. It encompasses a total square footage of 210,000 and was sold for a transaction amount of $19,000,000, which translates to a price per square foot of $90. The asset type is categorized as an office space.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $19,000,000
• Sale Price: $19,000,000
• Square Footage: 210,000
• Price per Square Foot: $90
• Address: 450 American Street
• Market: Los Angeles
• Buyer: Steve Elson & Brad Pennington - Alta West Partners; Glendon Capital Management
• Seller: Top Terraces
• Broker Representatives: David Meir & Jack Minassian - Peak Commercial

Alta West Partners, represented by Steve Elson and Brad Pennington, acquired the vacant low-rise office/industrial campus in an all-cash deal. This acquisition is part of their strategy as they continue to pursue office, R&D, and flex opportunities across the nation.