Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 10, 2017
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
NoHo Office Building Bought by Swift Real Estate Partners in $23.5 Mil Deal

11/02/17

Swift Real Estate Partners closed on its second office acquisition in the last 12 months, paying $23.5 mil for a 73.9k sf ($318/sf), Class A building in North Hollywood. The property was recently renovated by the seller, Curo Enterprises, prior to this deal and is currently 100% leased to multiple tenants.

The building is located at 4640 Lankershim, within the Media District submarket in the eastern San Fernando Valley. The site sits near three major freeways, less than one mile from the North Hollywood Metro Station, and a short minute drive to three major Hollywood studios.

CBREs Todd Tydlaska, Mike Longo, Sean Sullivan, Matt Heyn, and Troy Pollet represented Curo Enterprises in the transaction. Swift also recently acquired The Academy Tower, a 176k sf office and retail project a couple blocks down the street from 4640 Lankershim.

4640 Lankershim offers a strong rent roll and great in-place cash-flow, said Longo. This strategic acquisition gives Swift an expanded presence in the fast-improving North Hollywood market, and allows them to continue the success they are having at the Academy Tower.

North Hollywood (NoHo) is a rapidly evolving neighborhood. The property is surrounded by a variety of urban retail, dining, and entertainment options with more than 100 restaurants, bars, and gyms within walking distance. NoHo is known for its eclectic blend of theaters, plus art galleries, theater houses and comedy clubs.

Investment activity remains strong in the Greater Los Angeles office market, according to CBRE Q3 research. Office employment in the region has continued to grow at a steady pace, consistent with broad economic expansion. Rents are likely to continue to tick higher through the remainder of the year due to anticipated growth in demand for office space.






Return to the previous page
 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2017 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media