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4/24/23
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J&L Realty Partners purchased a five-story, 39.2k sf office building in the heart of Hollywood for $23 mil ($587/sf). It is located at 1777 Vine St, north of Hollywood Blvd.
The property, which is situated directly across the street from the iconic Capitol Records building, is fully occupied by the seller, AMDA College of the Performing Arts. AMDA executed a sale-leaseback agreement at the close of escrow, signing an 18-year lease at the property.
Built in 1962 with a renovation completed in 2014, the property includes 66 parking spaces and has 84 feet of frontage along the iconic Hollywood Walk of Fame on Vine Street.
Chris Bonbright and Chase Gordon with Avison Young represented AMDA. The buyer was repped by Craig White of Sotheby’s International Realty.
Led by trailblazers Jan and David Martin, AMDA is a fully accredited four-year university that has remained at the forefront of performing arts higher education nationally for nearly 60 years. Today, the college is a thriving institution with campuses in both Hollywood and New York City.
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