Malibu office campus trades for less than half of previous price tag

An office campus perched on a coastal bluff in Malibu has traded hands for $12.5 million, records reveal. The buyer is connected to Weintraub Real Estate Group, and the seller is affiliated with LaSalle Investment Management, a JLL company.  The 39,000 square-foot campus called The Enclave had a $28 million price tag nearly a decade ago. The latest deal came to about $320 per square foot. Near Nobu and Soho House’s Little Beach House Malibu, the campus at 22619 Pacific Coast Highway hosts three buildings, each with three stories.  LaSalle Investment Management declined to comment, and Weintraub Real Estate Group […]This article originally appeared on The Real Deal. Click here to read the full story.