Jamison acquires six-building portfolio of office properties
Jamison Properties, one of Southern California’s largest private landlords, has acquired six office properties in the region for $125 million from a Newport Beach investor.
The largest building, the Academy, is an eight-story office complex on the northeast corner of Lankershim and Magnolia boulevards in North Hollywood. It is part of a master-planned development that includes the Academy of Television Arts and Sciences’ headquarters.
Assets in the portfolio also include the Timbers, an office building near Interstate 5 in Solana Beach that had served as Jenny Craig Inc.’s headquarters.
The other buildings were Arcadia Pacific Plaza on Huntington Drive in Arcadia, Tustin Corporate Plaza on Tustin Avenue in Santa Ana and two adjacent buildings in Newport Beach at 1151 Dove St. and 1000 Quail St.
ZMI Real Estate Inc. sold the 384,815-square-foot office portfolio to Los Angeles-based Jamison, said brokerage CB Richard Ellis, which represented both parties in the transaction.
Jamison is owned by physician and investor David Y. Lee, a Korean immigrant who has been acquiring Southern California properties since 1995. The company owns millions of square feet of space, including the California Market Center and Macy’s Plaza in downtown Los Angeles and Equitable Plaza on Wilshire Boulevard.
--
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
