**S&G Properties Acquires Woodland Hills Office Building for $10.05 Million**
S&G Properties Management LLC has acquired a three-story, 62,241-square-foot office building located at 5550 Topanga Canyon Boulevard in the Warner Center/Woodland Hills submarket of Los Angeles. The purchase price for the property was $10.05 million.
The new ownership, S&G Properties, plans to occupy a portion of the building to house operations for its security services company, Citiguard.
Lee & Associates – LA North/Ventura, Inc. represented S&G Properties in the transaction. The brokerage team included principals Darren Casamassima, Scott Romick (also managing director), and Jay Rubin. In addition to handling the acquisition, the Lee & Associates team will take charge of leasing for the property moving forward.
“We are seeing strong demand from owner/users in the Warner Center/Woodland Hills submarket, which continues to be an attractive option for companies seeking growth opportunities in Los Angeles,” said Casamassima. “The buyer was attracted to the building’s prominent location, visibility from the 101 Freeway and the upside potential to create a best-in-class office property in this area.”
