Lee & Associates Closes $20 Million Plus Office Transaction

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By The Hoyt Organization -

Torrance, CA – November 22, 2011 – (RealEstateRama) — In one of the largest transactions in Long Beach this year, Lee & Associates, one of the nation’s leading commercial real estate providers, has closed a sales transaction of more than $20 million for the Park Tower, a 119,287-square-foot office building located at 5150 Pacific Coast Highway in Long Beach, Calif. The sale price of the off-market transaction could not be disclosed.

George Thomson of Lee & Associates’ Orange office represented the buyer, an affiliate of New York-based private equity firm Investcorp International, Inc. George Thomson and Marshal Vogt also played a key role in raising Park Tower’s occupancy rate from 38 percent to 96 percent in only 18 months preceding the sale.
Thomson and Vogt have more than 30 years of combined office brokerage experience and service both the Long Beach and Orange County areas.

About Lee & Associate:
Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 44 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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The Hoyt Organization
http://hoytorg.com/

Ranked as one of the top 25 public relations firms in Los Angeles by the Los Angeles Business Journal, The Hoyt Organization is a full-service, strategic communications firm that provides complete public relations counseling and crisis communication services. With more than two decades of experience, the firm specializes in developing public relations, social media and digital marketing programs for business-to-business, real estate, professional service firms, financial entities, healthcare organizations, as well as retail, legal, technology and business-to-consumer-based companies.

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Phone: 310-373-0103

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