Clarion Partners & Lincoln Property Co. Acquire Culver City Office Portfolio For $169M

The property asset involved in the transaction is located at 5870, 5880 & 5890 W. Jefferson Blvd in Culver City. The sale price was $169,000,000, encompassing a total area of 60,000 square feet, which equates to a price per square foot of $2,816.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $169,000,000
• Square Footage: 60,000
• Price per Square Foot: $2,816
• Address: 5870, 5880 & 5890 W. Jefferson Blvd
• Market: Culver City
• Seller: Rader Properties Group & Rodeo Properties
• Buyer: Clarion Partners & Lincoln Property Co.
• Brokers: Kevin Shannon, Ken White, Rob Hannan & Laura Stumm - Newmark Knight Frank, Ron Rader - Lee & Associates

The transaction included key individuals such as Ken White, Kevin Shannon, Ron Rader, and Laura Stumm who were instrumental in the brokerage process, representing various parties in the deal. The involvement of Rader Properties Group and Rodeo Properties as sellers highlights the diverse stakeholders engaged in this transaction, while Clarion Partners and Lincoln Property Co. represented the buyer side of the negotiation.