|
|
Article: Buyers select Raleigh studios over Sony's Culver City site.(Media & Technology)
- Article from:
- Los Angeles Business Journal
- Article date:
- February 16, 2004
- Author:
CopyrightCOPYRIGHT 2004 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Shamrock Holdings of California Inc. has agreed to sell its 584,000-square-foot Raleigh Studios Manhattan Beach in what would be the first sale of major studio property in more than a dozen years.
The deal, which a source familiar with the market said was valued at about $120 million, was struck with a group that includes Victor Coleman, president of Arden Realty Inc.
The transaction is expected to close next month, reduces the pool of buyers for Sony Corp.'s historic Culver Studios by one. Still, Sony is close to finalizing a buyer for the Culver City site.
The group buying the Shamrock property at 1600 Rosecrans Ave. had been among the handful ...