Technicolor Property Sold

Sandstone Properties Inc., Santa Monica, has acquired the Technicolor campus in Camarillo for about $100 million. The property consists of two buildings totaling 920,000 square feet. Technicolor put the property on the market as part of a restructuring that includes downsizing its DVD operations in the U.S. The company plans to lease back a portion of the property and will retain its headquarters for DVD production in Camarilllo. Sandstone, a private equity real estate investor with over 2.5 million square feet of office, retail and industrial properties, owns a 300,000-square-foot warehouse directly adjacent to the Technicolor site. “It made a lot of sense as far as bulking up in the area,” said Douglas Hansford, a broker with TOLD Partners who, with Sam Wagner, represented the buyer in the transaction. “They knew the area very well and it was a piece they wanted to add to their collection of properties.” Sandstone purchased the property as a leased investment. Roy Longman and Allen Trowbridge with CRESA Partners, represented the seller with Bram White, a broker with GVA Daum.