Major NoHo Office Complex Sold to Beverly Hills Firm

5161 Lankershim Blvd. (Photo Credit: Arin Mikailian)
5161 Lankershim Blvd. (Photo Credit: Arin Mikailian)
By Arin Mikailian

A 188,366-square-foot office building in the heart of NoHo was recently acquired by a Beverly Hills real estate firm that's already planning some remodeling, according to Market Watch.

The four-story building that sits at corner on Lankershim and Magnolia boulevards was on sale for more than a year and went for $45 million.

"The company's current plan consists of various enhancements to the asset's common areas, including bathrooms, elevators, lobbies and the parking structure," Market Watch reports. "The company will also aggressively market the building to prospective tenants in the burgeoning technology, entertainment, and media industries common to the North Hollywood submarket."

In June, animation studio Bento Box started renting the first floor of the building.

Last year, Kennedy Wilson bought the bought the Academy Tower building at 5200 Lankershim Blvd. for $48 million.

This post originally appeared on NorthHollywood-TolucaLake Patch.


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