February 6, 2020
A JV of Clarion Partners, LLC and Lincoln Property Company has acquired the Jefferson Creative Campus for $169 million. The three building, 152,146-square-foot office campus sits at 5870, 5880 and 5890 W. Jefferson Blvd. in Culver City, CA. Fully-leased at sale, the site can support 600,000 square feet of new development.
NKF’s Kevin Shannon, Ken White, Rob Hannan, and Laura Stumm represented the sellers, Rader Properties Group VII, LLC and Rodeo Properties, LLC, with Ron Rader of Lee & Associates providing local market intelligence.
Major campus tenants include Spin Master, MedMen and Prana Studios.
“Culver City has emerged as the preferred location for creative/techtainment tenants including HBO, Apple, and Amazon given its supply of new construction, urban walkability, and centrality within Los Angeles,” said Shannon.
“Surging original content budgets have resulted in a seemingly insatiable need for office space, and most new construction has been delivered pre-leased,” added Stumm.
Connect Los Angeles 2020 is coming up on March 26. It will bring together leading local, regional, and national developers, investors, owners, brokers, financiers and other major players for an afternoon of informative panel discussions, plus networking and cocktails. For more information, or to register, click here.
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