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March 21, 2018  

Blackstone Showing LA-Area Offices

Blackstone is shopping an office complex in the South Bay region of Los Angeles County that could fetch $110 million.The 444,000-square-foot Gateway Towers, in Torrance, Calif., is 89% occupied. At the estimated value of $248/sf, the buyer’s initial annual yield would be 6.25%. Blackstone’s Equity Office platform has given the listing to Newmark.The twin nine-story buildings have 59 tenants, with a weighted average remaining lease...

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