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August 4, 2020 Comments Off on Northwood Nabs Corporate Pointe Asset from Symantec for $120M Views: 2043 California News, Los Angeles, Top California

Northwood Nabs Corporate Pointe Asset from Symantec for $120M

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New York-based Northwood Investors acquired 900 Corporate Pointe, a 287,800-square-foot office building in Culver City for $120 million. The five-story asset and roughly three acres of land within the multi-building Corporate Pointe campus was sold on behalf of Symantec Corporation/NortonLifeLock.

Cushman & Wakefield handled the transaction. The investment sales team included Marc Renard, Manfred Schaub and Morgan Jackson. The CushWake Corporate Capital Markets team included Richard Ingwers and Bradford Rogers, while the financing team included Rob Rubano, Keith Padien and Brian Share.

The property sits at the east end of the 90 Marina del Rey freeway and was originally developed by Symantec Corp. in 2007. It was designed as a two-building Southern California HQ Campus. NortonLifeLock will retain a seven-year lease for two floors in the building.

NortonLifeLock’s Natalie Derse says, “The sale of the Culver City campus is another step toward achieving our forecasted $1.5 billion in proceeds from underutilized assets.”

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