Gemdale USA Acquires Calabasas Office Campus For $79M With Seller, Buyer's Reps Newmark

An office campus located at 4500 Park Granada in Calabasas has been sold for a total of $79,000,000. The property covers a space of 222,524 square feet, resulting in a price per square foot of $355. The transaction took place on April 5, 2021.

Summary of transation details

• Property Type: Office Campus
• Transaction Amount: $79,000,000
• Address: 4500 Park Granada, Calabasas
• Market: Calabasas

The buyer of the property is Gemdale USA, while the seller is a partnership between Christopher C. Rising of Rising Realty Partners and Peter Briger and Wesley R. Edens of Fortress Investment Group. The buyer was represented by David Milestone and Brett Green from Newmark, and the seller was represented by Kevin Shannon, Ken White, Rob Hannan, and Laura Stumm from Newmark Capital Markets.