Lexington Properties has sold a six-story, Class-A office building at 9300 Wilshire Blvd. in Los Angeles. The buyer, RP Properties, paid approximately $11 million, or $188 per sq. ft. The building, located near Beverly Hills Triangle, is 95.8% occupied. Madison Partners represented the buyer. The building has 58,484 sq. ft. of space on 16,409 sq. ft. of ground leased land. RP Properties will manage the property, and Madison Partners will assist with leasing.
Gables Residential has signed a 10-year lease for 21,000 sq. ft. — a full floor — at The Lenox Building in Atlanta's Buckhead submarket and plans to move its headquarters to the tower this fall, according to PM Realty Group, which leases space in the 20-story, 350,000 sq. ft. Class-A tower. Gables Residential is a private REIT that owns 72 apartment communities with 18,000 units. It manages more than 20,000 apartments for third-party owners.
Healthcare Trust of America, Inc., a non-traded REIT, has completed the $162.8 million acquisition of a 16-building portfolio from Greenville Hospital System (GHS)based in Greenville, S.C. Healthcare Trust of America was formerly known as Grubb & Ellis Healthcare REIT. As of Sept. 15, it has made 46 different acquisitions valued at approximately $1 billion, based on purchase price. The REIT's portfolio totals about 6.4 million sq. ft.