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Real Estate/Development

Feb. 23, 2012

Parson's World Headquarters sale/leaseback

At nearly 1 million square feet of office space, the Parson's World Headquarters in Old Pasadena is an investor's dream. But as a sale/leaseback, the deal is also complicated.


At nearly 1 million square feet of office space, and adjacent to one of the region's busiest shopping and residential districts, the Parsons World Headquarters in Old Pasadena is an investor's dream.


So when Lincoln Property Company and Morgan Stanley Real Estate Fund purchased the office campus from Parsons in July for $320 million, it was no surprise that it was one of the biggest deals in Los Angeles County in the last several years.


But a...

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