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11/03/16
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The Kavli Foundation purchased a 13k sf building in Playa Vista for $12.3 mil ($946/sf) in an all-cash deal. The three-story building is located at 5715 Mesmer Ave, in the heart of Playa Vista on the west side of Mesmer between Major St and Centinela Ave.
The seller, Vista Management LLC, designed and built the property to function as the showroom and main offices of Benchmark Builders. The building features floor to ceiling soundproof glass, solar panels, a brushed steel frame, concrete floors, and subterranean parking.
Currently located in Oxnard, Kavli will use the property as their new headquarters upon completion of their planned improvements in Q2 of 2017. Kavli, a private foundation dedicated to advancing science for the benefit of humanity, promoting public understanding of scientific research, and supporting scientists and their work, has hired Wolcott Architecture & Interiors to handle the redesign and renovations of the property.
Mike Rago, Tobin Koziol, and Adam Targan of Beitler Commercial represented the Kavli Foundation in the transaction. John Lally and Brandon Michaels represented the seller.
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