LaSalle Investment Management has picked up the Atria West office complex in Los Angeles, California, paying $47 million (€30.5 million) for the 179,000-square-foot property according to news reports. The complex was acquired from Foster City, California-based Legacy Partners.
The Atria West complex, approximately 95 percent leased, is located on Santa Monica Boulevard and comprises two, three-story office buildings and four historic cottage office structures known as The Grove. It also features a garden atrium and underground parking spaces.
Last month, LaSalle said it had launched its third fund in Europe, European Ventures Fund III, to acquire up to €5 billion ($7.9 billion) of real estate, arguing fundamentals in the European office, retail, logistics and hospitality sectors were strong.