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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.

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