June 28, 2016
Gen Z entertainment media brand, AwesomenessTV signed a nearly $100-million lease for 90,000 square feet at the Pen Factory, a 222,000-square-foot creative office campus under redevelopment on LA’s Westside. It is one of the market’s largest in the big deal category completed so far this year.
Paper Mate’s former pen manufacturing facility, built in 1956, has stood vacant since 2005. The more than ¼-mile long building at 2701 Olympic Blvd. in Santa Monica is being reborn by Lincoln Property Co. and Clarion Partners.
The adaptive reuse project features 31-foot clear heights and a unique subterranean parking stacker that anticipates higher density requirements of a tech or entertainment occupier. A second 140,000 square foot building is available at a project expecting completion next year.
LA Realty Partners’ Rick Buckley and Owen Fileti represented the owner. Cresa’s Jerry Porter and Matthew Miller represented the tenant.