12/26/2007

CBRE arranges $184M sale of Los Angeles office tower

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1055 W. Seventh St.

Jamison Properties has purchased a 32-story office tower in downtown Los Angeles, Calif., for $184 million, or $298 per square foot, from San Francisco-based Bristol Group.

Tom Bohlinger, Kevin Shannon, Todd Doney and Todd Tydlaska of CB Richard Ellis represented Bristol in the transaction.

Built in 1988, the office building is located at 1055 W. Seventh St. and contains 617,919 square feet. It is situated on 1.37 acres and was 75 percent occupied at the time of sale. Its largest tenant, the Los Angeles Unified School District, occupies 117,054 square feet on a 10-year lease signed in 2005.

Bohlinger is an executive vice president with CBRE's Investment Properties Institutional Group. Prior to joining CBRE in 2001, Bohlinger was a senior vice president at Grubb & Ellis' Institutional Services Group and the senior vice president of W. Ross Campbell Company.

Shannon is a vice chairman with CBRE's Torrance office. From 1999 to 2006 he worked with Grubb & Ellis' Institutional Investment Group. He is a former managing director with Colliers Seeley's Investment Division.

Doney, a vice chairman in CBRE's Office Properties Division, is a former executive managing director with Insignia/ESG, Inc. He has published articles on real estate and lectured at the UCLA Graduate School of Management. Doney is on the Board of Directors of the San Gabriel Valley Council of the Boy Scouts of America.

Tydlaska is an investment sales professional who specializes in office and industrial investment dispositions. He rejoined the company in 2006 after spending several years with Secured Capital Corporation.

Address: 1055 W. Seventh St., Los Angeles, Calif.

Size: 617,919 square feet

Built: 1988

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Filed Under: Office

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