Pennington Lawson Represents 530 Lytton Owner LLC in $117.5 Million Sale of Palo Alto Property

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Pennington Lawson LLP worked with DLA Piper representing the seller in the sale of its approximately 55,000-square-foot office building at 530 Lytton Avenue in downtown Palo Alto.  The purchaser was 530 Lytton CM, LLC, which acquired the property for $117.5 million.  Media report that 530 Lytton CM, LLC is an entity of the Hong Kong-based Cha family.  530 Lytton Owner LLC purchased the property in 2015 for $52.9 million, or $962 per square foot.  The sale price, equivalent to $2,136 per square foot, is nearly the highest on record for Palo Alto.

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