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6/13/16
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Imagine Entertainment has inked a seven-year lease for the remaining 28k sf of space at an office building in Beverly Hills. The 60k sf building is located at 150 S. El Camino Drive, just one block south of the intersection of Wilshire Blvd and Rodeo Dr, in the heart of one of the most desired locations in the world.
The three-story, Class A building was acquired fully vacant by Kennedy Wilson in 2013, after which Kennedy Wilson conducted a full scale renovation, including a remodel of the interior and exterior. Bob Safai, Tony Ranger and Joe King of Madison Partners represented Kennedy Wilson in the purchase and then landed two new tenants that resulted in the property being 52% pre-leased by the time the renovations were completed in Q1 2016.
This final lease to Imagine Entertainment brings the property to 100% occupancy. Madison Partners worked in cooperation with Tony Morales and Blake Searles of JLL, who represented Imagine Entertainment in the transaction. The lease value was not disclosed. Other tenants include Douglas Elliman, and Entertainment One.
“The property offers an incredible location that is historically significant within the entertainment industry,” said Safai. “Kennedy Wilson practically rebuilt the entire building from the frame up, resulting in a Class A renovation that transformed the property into one of the nicest contemporary office buildings in Beverly Hills.”
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