JV Acquires Historic LA Office Building
- Jun 29, 2017
ArcWest Partners, a joint venture between Arc Capital Partners and Belay Investment Group, acquired a historic office building, with ground floor retail, in the Silver Lake neighborhood of Los Angeles. This purchase marks the partnership’s second acquisition in Los Angeles.
Located at 2807 Sunset Blvd., the 30,000-square-foot asset was originally built in 1928 and was last renovated between 2005 and 2007. The property features three retail units, a creative office space and a warehouse component.
Bestor Architects will serve as the lead architect and The Assembly Group was chosen to program the building’s repositioning.
“Built in 1928, this building is one of the few historic commercial properties in Silver Lake,” said Neville Rhone, managing partner of Arc Capital Partners, in prepared remarks. “We are repositioning the asset into vibrant creative office and retail space on this prime stretch of Sunset Boulevard.”
Carle Pierose of Industry Partners was retained as the property’s office leasing broker, while Marc Finkel of RKF will lead retail leasing. Martin Agnew of Marcus and Millichap represented the seller.
“In this neighborhood, we have seen incredibly strong demand for architecturally distinctive space, but there is no supply. This project will be compelling for the many creative tenants that live on the east side of LA and we are already getting calls,” said Pierose, in prepared remarks.
Image courtesy of ArcWest Partners