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