GI Partners Pays $211M for Los Angeles Asset

12800 Culver Blvd. Image courtesy of CommercialEdge

GI Partners has paid $211 million for 12800 Culver Blvd., a 185,315-square-foot facility in Los Angeles, public records show. The firm acquired the asset on behalf of its Essential Tech + Science Fund.

The previous owner was AT&T, which purchased the asset in 2010 for $6.5 million, according to CommercialEdge information. CBRE Capital Markets represented the seller in the deal.

The ETS fund launched in 2021 and, since that time, has purchased 20 properties across the U.S., focusing on data centers and life science assets.

In one of its more recent investment deals, the fund acquired four life science properties totaling more than 407,000 square feet in Cambridge, Mass., South San Francisco and San Carlos, Calif. The fund’s life science portfolio also includes Mt. Eden Research Park in Hayward, Calif., and 3701 Market St. in Philadelphia.

The newly purchased Los Angeles asset

Completed in 1968 on a 13-acre site, the facility served as a broadcast center for AT&T and DirecTV, its subsidiary. The property features large-scale data storage and high-capacity digital content distribution capabilities that include advanced electrical and mechanical equipment, satellite arrays and extensive fiber connectivity.

Located in the Marina Del Rey submarket, the property is roughly 17 miles from downtown Los Angeles, having direct access to Interstate 405. Los Angeles International Airport is less than 5 miles south.