LOS ANGELES—The Campus at Playa Vista has been purchased by Hines Global REIT Inc. Terms of thewere not disclosed.
The Campus at Playa Vista is a four-building, class-A office campus in the West Los Angeles submarket. The property is 97% occupied with tenants such as Facebook Inc., Belkin International Inc. and University of Southern’s Institute for Creative Technology.
“We were attracted to this property due to its strong tenancy, recent construction, excellent access and long-term prospects for this emerging west Los Angeles submarket,” said Sherri Schugart, president and CEO of Hines Global REIT.
The Campus at Playa Vista, which totals 324,944 sq. ft., is located on seven acres and is part of the 1,087-acre Playa Vista master-planned community.
Hines will manage the property for Hines Global REIT. Seller, Tishman Speyer, was represented by CBRE.