REIT buys Homestore headquarters

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Grubb & Ellis Co. represented Arden Realty Inc., a West Los Angeles-based real estate investment trust, in the purchase of a 137,762-square-foot office building in Westlake Village, Calif. The value of the transaction was $32.5 million. The two-story, concrete tilt-up building, which is located at 30700 Russell Ranch Road, was 100 percent leased to Homestore Inc. at the time of sale. Calabasas, Calif.-based Russell Ranch Road LLC sold the property. Grubb & Ellis is a provider of integrated real estate services. *** What's your opinion? Send your Letter to the Editor to