July 17, 2017 Comments (0) Views: 376 Los Angeles

Creative Redev Planned Near Hayden Tract

San Francisco-based Newcastle Partners, in connection with Westport Capital Partners, formed a joint venture to acquire a two-story creative office building located at 5830 Rodeo Rd. in Los Angeles for roughly $15 million. The JV is planning a full-scale $5 million-renovation of the 40,000-square-foot office property, which was acquired from an unnamed user that owned the building for some 30 years.

After operating as an antique showroom and warehouse, the property is now vacant allowing for an immediate value-add renovation to reposition it into creative office. The asset is located just east of the Hayden Tract in Culver City.

First Property Realty Corporation’s Josh Bernstein and Mike Geller represented the seller, while the buyer was self-represented.

Connect With First Realty’s Bernstein

Connect With Newcastle

Connect With Westport Capital


Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.