CoStar: L&R Group Sells Airport Ctr Bldg III

15-Story Office Trades for $12.5M

May 24, 2017

Roxborough Group and The Ruth Group acquired the Airport Center Bldg III office building at 9841 Airport Blvd. in Los Angeles, CA for $12.5 million, or about $41 per square foot, from L & R Group of Companies.

The 15-story, 306,234-square-foot building was constructed in 1968 and was 62 percent occupied at the time of sale. The buyers plan to make significant renovations to the office building’s interior and exterior.

Both parties handled the direct sale in-house.

Please see CoStar COMPS #3910288 for more information on this transaction.