• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Gemdale Lists Calabasas office campus for $82M

Gemdale USA, the domestic arm of China-based investment firm Gemdale Corporation, is looking to offload an office campus in Calabasas for just $3 million more than it bought it for in 2021.

The firm has listed Park Calabasas, located at 4500 Park Granada, for $82 million, or roughly $364 per square foot, according to Real Estate Alert. Newmark has the listing. 

Gemdale bought the 225,000-square-foot office campus for $79 million in 2021 from Rising Realty and its partner, Fortress Investment Group. Gemdale USA did not respond to a request for comment. 

It purchased the building using a $55 million loan from Athene Annuity and Life Company, records show. 

Rising and Fortress made a pretty penny off the sale — the duo bought the building for $38 million in 2013 as part of a larger portfolio acquisition. 

And when the two sold it off in 2021, the property was 92 percent leased, mostly to cosmetics company Coty and co-working firm Spaces. 

But according to online listings for the property, the building is currently 75 percent occupied, with about 60,000 square feet up for grabs. 

Though many office owners have put their buildings up for sale, few have shared pricing guidance. Gemdale’s listing is one of a handful that have suggested the building’s value has not creeped up much, if anything, over the last three years.

If the property sells at $82 million, it would trade at a higher price-per-square-foot than many recent deals across Los Angeles. 

In the last few months, Kennedy Wilson sold 400 and 450 North Brand Boulevard in Glendale for $136 per square foot; Carolwood bought the AON Center, a Downtown L.A. office tower, for about $134 a square foot, and; Harbor Associates bought 1640 South Sepulveda Boulevard in Westwood for $271 a foot.

The post Gemdale Lists Calabasas office campus for $82M appeared first on The Real Deal.

Powered by WPeMatico

  • 16 March 2024
  • The Real Deal
  • Uncategorized
  •  Like
Rihanna to flip Century City penthouse once owned by Matthew Perry →← Cain secures $2B for One Beverly Hills megaproject
  • Recent Posts

    • Hoteliers sound the alarm on looming distress  May 24, 2025
    • Growth markets see retail boom even with tariff uncertainty May 24, 2025
    • Westchester resi project gets city OK after union drops objection May 23, 2025
    • WATCH: ‘Father of CMBS’ Ethan Penner to run for governor of California May 23, 2025
    • Fashion Island office fetches $756 psf May 23, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM