Post-COVID market perks up with office sale

NEW OWNER— Gemdale USA recently purchased The Park Calabasas office complex and remodeled the building to provide space for multiple tenants. Courtesy photo

Newmark Group real estate company announced it has sold The Park Calabasas office complex to a Chinese buyer.

Gemdale USA, a subsidiary of China-based Gemdale Corporation, purchased the office building at 4500 Park Granada for $79 million, Newmark said.

The 222,500-square-foot, low-rise campus is 92% leased to six tenants and featur...

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