Madison Partners Brokers Hollywood Office Sale
- Apr 11, 2017
A 29,000-rentable-square-foot office and post-production space in Hollywood traded hands for approximately $12.6 million or $435 per square foot. Madison Partners Bob Safai, Matt Case and Brad Schlaak represented the owner, Ascent Media. A Los Angeles-based private real estate investment company purchased the property in a 1031 exchange.
Located at 6344 Fountain Ave., in the heart of Hollywood’s Sunset & Vine Media District, one of the major office markets in SoCal and home to top entertainment firms, the property is just off Santa Monica Boulevard and State Route 101 with easy access to numerous retail and dining options. The two floors are fully leased to Deluxe Entertainment Services Group Inc.
Situated on 0.68 acres of land, the building was originally constructed in 1988 as a post-production facility. The interior includes a mix of edit bays, viewing rooms, executive offices, and two client lounge and kitchen areas. There is an outdoor patio area with seating along the front perimeter of the building. The property includes a surface parking area and a two-level subterranean parking garage, totaling approximately 80 parking spaces.
Image courtesy of Madison Partners