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November 11, 2019 Comments Off on NoHo Office Building Goes for $30M Views: 1102 California News, Los Angeles

NoHo Office Building Goes for $30M

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Rockwood Capital and Artisan Realty acquired a 73,972-square-foot, six-story, multi-tenant office building in North Hollywood, CA for $30 million, or $406-per-square-foot. The seller was San Francisco-based Swift Real Estate Partners.

Built in 1982, the property at 4640 Lankershim is 98% leased to a number of prominent entertainment industry tenants, as well as a diverse set of financial, educational, and professional services companies. Swift Real Estate Partners repositioned the project after its October 2017 acquisition, which included restroom and lobby renovations and the creation of a large outdoor lounge, which helped quickly bring the project’s occupancy up from 70% to stabilization.

NKF’s Kevin Shannon, Rob Hannan, Laura Stumm, Ken White, and Mike Moll represented the seller. The buyers were self-represented.

This transaction marks the second NoHo acquisition for Rockwood Capital and Artisan Realty. In August 2019, the same seller and buyer transacted Academy Tower, a Class A property at 5200 Lankershim for $121.25 million.

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