Newmark facilitated the sale of a 27,090-square-foot office building in Culver City, located at 5995 Sepulveda. The undisclosed seller was represented by a team of experts including co-heads of U.S. capital markets Kevin Shannon and Ken White, vice chairmen Rob Hannan and Laura Stumm, executive managing directors Steve Kolsky and Greg Frankovich, and Michael Moll. The property was sold to a private investor for an undisclosed amount.
According to Stumm, there is an increasing trend in the market for owner-occupied acquisitions as seen with this sale. The buyer plans to use the building as their headquarters due to its prime location on the central westside with easy freeway access and updated interiors.
The newly renovated creative office project offers amenities such as landscaped outdoor seating areas and 24/7 onsite security with access control features.
This article originally appeared on Connect CRE.
