Douglas Emmett sells 14-story Sherman Oaks office building for $56.7M (The Real Deal)

Los Angeles-based Sandstone Properties just bought a Class A office building in Sherman Oaks for $56.7 million, or $338 per square foot, from Douglas Emmett. Sandstone has definite plans to further improve the property, which will be a long-term hold, and to court more creative-minded entertainment tenants as current leases expire.