Saturday, April 16, 2011

Jones Lang LaSalle Completes Sale of Redevelopment Project in Los Angeles


LOS ANGELES, CA – Jones Lang LaSalle announced it has completed the sale of Sunset Pacifica, a vacant, six story mixed-use apartment building located at 17351 West Sunset Boulevard in Pacific Palisades (top left photo), an affluent district of Los Angeles, California.

The purchaser is Sonoma, Calif.-based Nine Mile Investments.

Jones Lang LaSalle’s West Coast Multifamily team of Vice Presidents Patrick Shiver and Javier Rivera, represented US Bank in the transaction.  The buyer was represented by Clark Everitt of Investment Real Estate Associates.

“Our knowledge of the local market enabled us to locate a buyer who saw the upside and potential in this property,” said Shiver.  “Nine Mile Investment will begin immediately on the build-out of 16 luxury apartments units and two commercial condominiums with completion planned for 12 to 24 months.”

Sunset Pacific was constructed in 1983 and includes 68,842 square feet of gross building area. It is within walking distance to world-class beaches and features views of the Pacific Ocean. 

Sunset Pacifica is just minutes from Downtown Santa Monica featuring world renowned entertainment, shopping and dining venues.

Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351
(c) 949.278.7851,

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