Foreclosed Atrium in PacPal Sells for $387/SF

Optimus Properties has purchased the three-story, 30k SF Atrium for $11.35M. Optimus says it has plans for an extensive reno to the building, including modernizing the exterior and common spaces. The company is bullish on the area, as Rick Caruso--one of LA's wealthiest real estate moguls--has some pretty big plans nearby. Rick told us all about them last month. The Atrium at 860 Via de la Paz was in foreclosure and had not been properly maintained or marketed for lease. The buyer and seller were repped by Bob Safai of Madison Partners.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

DivcoWest Sells Glendale Office Building For $70M

Hines And Rialto Close Office Credit Fund At $1.1B

Daniel Negari Buys Downtown LA Hotel For $34M

Stockdale Capital Partners, Hamilton Lane Acquire Chino Hills Shopping Center For $157M

California Emerging As Data Center Fallback Market Amid Nationwide Opposition

Rig Collapse At Citadel HQ Site Sends 4 To Hospital

Northern Virginia Office Tower Sells For Double Its 2024 Price

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Chapman Market Owners Get $29M Refinance: The Los Angeles Deal Sheet

Fertility Provider Opens Clinic At 1900 Lawrence Office Tower: The Denver Deal Sheet

Lineage Suing Solar Company Altus Power Over Boyle Heights Warehouse Fire