Money & Company

Tracking the market and economic trends
that shape your finances.

« Previous Post | Money & Company Home | Next Post »

REIT spends $51 million on Northrop Grumman campus in Carson

October 15, 2010 | 12:57 pm

A five-building Northrop Grumman Corp. campus in Carson has been sold to a Massachusetts real estate investment trust for $51 million, real estate brokerage CB Richard Ellis said Friday.

The complex of two-story office buildings on the southwest corner of Wilmington Avenue and Glenn Curtiss Street was acquired in two separate transactions by CommonWealth REIT. The Newton, Mass.-based trust invests in office and industrial properties. Northrop Grumman Bldg_0632

The campus, with 402,000 square feet, is the regional center for Northrop Grumman Information Systems.  The buildings, which are part of the 8-million-square-foot Dominguez Technology Center, were built in 1987 for TRW Inc. Northrop acquired TRW in 2002.

Selling the campus to CommonWealth were the J.H. Snyder Co. of Los Angeles and the Carson Cos. of Newport Beach.  Northrop recently renewed its lease at the site for seven years, according to broker Kevin Shannon of CB Richard Ellis, who managed the transaction.

-- Roger Vincent

Photo: Northrop Grumman Information Systems campus in Carson. Credit:  CB Richard Ellis

 

Comments 

Advertisement










Video