North Hollywood’s Lankershim Media Center office building has traded hands for $23.5 million, according to CBRE Group Inc.
The nearly 74,000-square-foot structure at 4640 Lankershim Blvd. sold to San Francisco-headquartered Swift Real Estate Partners. The property, built in 1984, sold after a renovation by owner Curo Enterprises of New York City, and was 100 percent leased at the time of the sale, according to CBRE.
CBRE’s Todd Tydlaska, Mike Longo, Sean Sullivan, Matt Heyn and Troy Pollet brokered the deal on behalf of Curo.
The property sold for more than $317 a square foot. Curo paid $19.7 million, or $266 a square foot, for the building a decade ago.
Comparatively, the 78,000-square-foot Platinum Executive Plaza at 5900 N. Sepulveda Blvd. in Sherman Oaks sold on Oct. 18 for $16.75 million, or almost $215 a square foot, to Pacific Investment Group.
The seven-year-old Swift Real Estate Partners focuses on Class A and B office properties that it refurbishes and repositions. The firm has focused on Northern California but started making inroads into Southern California in 2014. It bought the 174,000-square-foot Academy Tower office building in North Hollywood last year for $61.5 million.