Westside Neighborhood School Acquires Office In Los Angeles For $50.3M

The office property located at 5340 Alla Road in Los Angeles was sold for $50,300,000. The asset spans 131,942 square feet, resulting in a price per square foot of $381. The transaction took place on 05/24/2024, with the buyer being Westside Neighborhood School and the seller being LaSalle Investment Management. David Kimball & Sam Devorris from NAI Capital represented the buyer, while the seller was represented by Kevin Shannon, Laura Stumm, Ken White, Michael Moll, and Rob Hannan from Newmark.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $50,300,000
• Address: 5340 Alla Road
• Market: Los Angeles
• Square Footage: 131,942
• Price Per Square Foot: $381
• Buyer: Westside Neighborhood School
• Seller: LaSalle Investment Management
• Buyer's Rep: David Kimball & Sam Devorris - NAI Capital
• Seller's Rep: Kevin Shannon, Laura Stumm, Ken White, Michael Moll & Rob Hannan - Newmark

The involvement of key individuals in this transaction includes David Kimball and Sam Devorris from NAI Capital, representing the buyer, Westside Neighborhood School. On the seller's side, Kevin Shannon, Laura Stumm, Ken White, Michael Moll, and Rob Hannan from Newmark played essential roles in facilitating the sale of the office property. This significant deal demonstrates the collaboration of multiple professionals to successfully close a substantial real estate transaction in the Los Angeles market.