New York Life Acquires Office Building On Lankershim Blvd In North Hollywood For $103M

Located at 5161 Lankershim Boulevard in the North Hollywood neighborhood of the LA Media District, a notable office property has recently changed hands. The transaction took place on June 14, 2019, with New York Life Real Estate Investors acquiring the property from Beacon Capital Partners for a substantial amount of $103,000,000. Spanning across a total area of 205,285 square feet, the property boasts a price tag of $501 per square foot.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $103,000,000
• Address: 5161 Lankershim Boulevard
• Market: North Hollywood, LA Media District
• Square Footage: 205,285
• Price per Square Foot: $501
• Seller: Beacon Capital Partners
• Buyer: New York Life Real Estate Investors
• Brokers: Todd Tydlaska, Sean Sullivan, Mike Longo, Val Achtemeier, and Greg Gran - CBRE

The notable individuals and companies involved in the transaction include Todd Tydlaska, Sean Sullivan, Mike Longo, Val Achtemeier, and Greg Gran from CBRE, who served as brokers representing both the seller, Beacon Capital Partners, and the buyer, New York Life Real Estate Investors. Together, they facilitated this significant exchange in the North Hollywood market, highlighting the appeal of the LA Media District for office property investments.