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7/06/22
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A 65.6k sf parcel of contiguous land on the corner of Highland Ave and Sunset Blvd in Hollywood was purchased by Grammy Award-winning songwriter and producer Philip Lawrence. Lawrence, known for his long-time collaboration with Bruno Mars, is the founder of the independent, Black-owned multimedia entertainment group CMNTY Culture, which plans to build CMNTY Culture Campus on the site, in partnership with Thomas St. John, founder of Thomas St John Group, a leading international tax, accounting and business management firm for sports and entertainment.
The property was sold by Musicians Institute (MI), a world-renowned college of contemporary music dedicated to inspiring artistic and academic excellence. MI, over a period of many years, strategically accumulated 181k sf of buildings on and between Hollywood and Sunset Boulevards to house their state-of-the-art Hollywood campus.
CMNTY Culture Campus is a planned 500k sf community for creators in music, new media, gaming, and entertainment tech. The $500 mil project will include production, performance, education, and creative office spaces.
CMNTY Culture Campus will feature:
• 50k sf of music studio/production space
• 430k sf of creative office space
• 4.4k sf of retail space
• 10k sf of artist hospitality space
• 10k sf of education and performance space
• 500-seat outdoor performance venue
Kathleen A. Silver, CCIM, and Kay Sasatomi, CCIM, with NAI Capital Commercial’s Investment Services Group represented the seller in transaction. The financial terms of this sale were not disclosed. All buildings were delivered vacant at the close of escrow.
The transaction followed a 16,.4k sf land sale Kathleen and Kay completed with the same buyer months earlier, representing a total of 82k sf of land assembled for the project's development. According to Sasatomi, this completes the assemblage of almost two acres of contiguous land. Sunset and Highland is a key corner in Hollywood, the Entertainment Capital of the World. It is extremely difficult to assemble multiple contiguous parcels in this area due to continued demand for residential and commercial land.
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