ABOUT THE PROPERTYThis 20 acre site directly adjacent to Los Angeles International Airport was originally developed by The Koll Co. and The New England Life Insurance Company in 1992. It is quite possibly the premier, privately owned, airport parking facility in the country. MetLife acquired The New England in 1996 and with the help of ZKS and Cootes Consulting, built the business to the point where it was sold for $75 million in December 2002, making MetLife a very happy client.
INVESTMENT DATA
Capital Partner Metropolitan Life Insurance Company
Purchased From The New England Life Insurance Company
Sold to AMP Properties, L. P.
Date Purchased May 1989
Date Sold December 2002
Purchase Price $41,000,000
PROPERTY DESCRIPTION
Location Los Angeles, CA
Submarket LAX
Property Type Airport Parking
Property Description Surface Parking Lot - 2,720 spaces
Year Built 1992
Acreage 19.91