Shidler sheds office/R&D portfolio for $209M

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The Shidler Group, in partnership with Angelo, Gordon & Co., has sold an 18-building portfolio containing more than 1 million square feet of office and R&D properties in Los Angeles and San Diego for $209 million. Palo Alto, Calif.-based Broadreach Capital Partners, a private equity firm that invests in commercial real estate, purchased the portfolio, which includes 10 buildings in the Greater Los Angeles area and 8 in San Diego. The Los Angeles-area properties include: 91 Freeway Center, an office building and a freestanding restaurant comprising 92,471 square feet at 17100 Pioneer Blvd. in Artesia; A 77,943-square-foot building at 1501 Hughes Way and a 53,423-square-foot building at 3901 Via Oro Avenue in Long Beach; Glendale Corporate Center, a 111,072-square-foot building at 425 Corporate St. in Glendale; Norwalk Corporate Plaza, a 121,016-square-foot building at 12501 Imperial Highway in Norwalk; South Bay Tech Center, two buildings containing 106,078 square feet lo...