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4/06/17
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A two-story, 29k sf office and post-production building fully leased to Deluxe Entertainment Services Group Inc traded hands for $12.6 mil, or $435/sf. The property is located at 6344 Fountain Ave, in the heart of Hollywood’s Sunset & Vine Media District, home to many of the world’s leading entertainment firms.
Situated on 0.68 acres of land, the two-story building, with two-level subterranean parking garage, was originally constructed in 1988 and has been built out as a post-production facility. The interior includes a mix of edit bays, viewing rooms, executive offices, and two client lounge and kitchen areas.
Additionally, there is an outdoor patio area with seating along the front perimeter of the building. The entire property is secured by gated access and includes a surface parking area that, along with the subterranean parking garage, provide a total of approximately 80 parking spaces.
Madison Partners Bob Safai, Matt Case and Brad Schlaak represented the seller, Ascent Media, in the disposition of the asset. The property was purchased in a 1031 exchange by an undisclosed, Los Angeles-based private real estate investment company.
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