Grubb & Ellis represented Jamison Properties, a Los Angeles-based private real estate investor, in the purchase of Adams Plaza, a 205,552-square-foot office property in Los Angeles.
The transaction was valued at $23.3 million.
The complex includes three buildings, which are located at 1541-1545 Wilshire Blvd. and 1543 Shatto St. The 41,130-square-foot 1543 Shatto building is occupied by the Los Angeles Unified School District; 1545 Wilshire is a 90 percent leased, 112,230 square-foot multi-tenant building; and 1541 Wilshire was vacant at the time of sale and consisted of 48,000 square-feet.
Kevin Shannon, Michael Moore and Scott Schumacher of Grubb & Ellis’ South Bay office and Chris Runyen of the firm’s Downtown Los Angeles office represented the buyer and the seller, Marcus Adams of Los Angeles, in the transaction.
Grubb & Ellis is an international provider of integrated real estate services.
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