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SOUTHERN CALIFORNIA NEWS
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Recently Renovated Office Building Near Downtown Culver City Signs Three

10/03/17

There have been three new lease signings totaling 22.7k sf of space at 3000 South Robertson, a four-story, 109.2k sf office building in West Los Angeles, just a few blocks from downtown Culver City. The new tenants include: Michelson Foundation (11.7k sf); Universal Protection Services (6.7k sf); and Complete Care (4.3k sf).

The new leases come on the heels of a $5 mil creative office renovation of the property just completed by the owner, Watt Investment Partners, a Santa Monica-based investment firm. Watt acquired the asset in November 2015.

Watt’s renovation of the property was led by Wolcott Architecture. The creative repositioning includes a comprehensive renovation of the central courtyard and landscaping, implementation of street-facing fencing along Robertson Blvd, extensive renovation of the main lobby and common areas, as well as an update to the building’s façade featuring architectural metals and building top signage along the I-10 freeway and Robertson Blvd.

The newly-enclosed central courtyard features an abundance of outdoor seating, WiFi and amenities including an outdoor ping-pong table and bike storage. Creative spec suites featuring exposed ceilings with spiral ducting, polished concrete/modern flooring, significant interior glass and high-end open galley kitchens are already built out and ready for move in, which are in high demand from today’s tenants.

“We saw great potential in this property. It has close proximity to the Culver City Metro Station, providing tenants with efficient access to downtown Los Angeles and Santa Monica. Well-located transit options and the ongoing transformation of Culver City drove our desire to acquire it,” said Adam Siegman, managing director, Watt Investment Partners. “Now the investment in making it into a stand-out creative office property has been confirmed by the tenants who have already committed to the space.”

Culver City, specifically the Helms Bakery District, is undergoing a major transformation due to the expansion of the Expo line and transit-oriented development projects such as the 500k sf Ivy Station, Platform and Access Culver City that are bringing a greater diversity of amenities and housing to the region.

NKF’s Brad Feld and Alex Bergeson represented the owner in the lease transactions. According to NKF, the demand for transit-oriented creative office properties situated in urban, work/live/play environments is at an all-time high.

“The Helms Bakery District/Downtown Culver City has leapfrogged Playa Vista as the hottest, most sought-after submarket in Los Angeles. The ongoing gentrification, transit connectivity and trendy restaurants and bars have been the fuel behind this submarket’s rise to the top,” said Feld.

3000 South Robertson’s location puts it within a 10-minute walk of the successful PLATFORM retail center and Expo line. It’s proximity within Culver City’s high-profile Helms Bakery District and strong identity along the I-10 Fwy delivers exposure to 300,000 cars per day driving past the building.

3000 South Robertson checks every box that today’s creative tenants demand, including activated outdoor space, a dog run, creative interiors and exteriors, and immediate access to the full spectrum of amenities. The current full-floor availability of 30k sf features private balconies and building-top signage, which is very challenging to find on the Westside.

“This is a great opportunity for tenants that need to be in this geographic location at a discount to the high-growth office rents characterizing most of the Culver City and Westside submarkets,” added Feld.






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