Nissan North America Inc. recently sold its 42-acre office and industrial campus in Los Angeles to a joint venture, a press statement announced this week.
The Japanese automaker sold the property, which straddles the cities of Carson and Los Angeles, for an undisclosed price. The campus at 190th and Figueroa streets features 13 office and light industrial buildings representing more than 700,000 square feet of space.
Kearny Real Estate Co. and Morgan Stanley Real Estate’s MSREF V U.S. were the buyers.
“We will make significant capital improvements to upgrade the asset before returning the individual buildings to market for sale and/or lease,” said Jeff Dritley, Kearny managing partner. “We plan to fill the campus with small- and mid-sized businesses which have been the steady drivers of job growth in L.A. County over the past decade, although if fortunate enough, we certainly would work with a large user that wants to take a significant portion of the campus.”