Playa del Rey to Get First New Office Complex in 20 Years
- Feb 20, 2012
Playa del Rey will get its first new office complex in 20 years—The Strand Offices at Playa del Rey, a two-building complex at 311 and 315 Culver Boulevard.
At 10,000 square feet, the property will be modest in size, yet developer Cove Spring Partners L.P. is counting on the property’s location adjacent to the Ballona Wetlands Preserve and a distinctive look to attract tenants. The design by Studio City-based MIKA design group Inc. calls for outdoor decks, natural materials and ample use of glass that will offer marina views, RENTV.com reported. Cove Spring Partners is handling leasing in house for the property, which is scheduled to open in 2013.
In other real estate news, the L.A. area’s luxury home market recorded some winners and losers in 2011. According to DataQuick, Hermosa Beach enjoyed the top improvement to its median home price—15.8 percent, the Los Angeles Times reported. Bel-Air saw a 14.3 percent improvement, but San Marino sustained a 7.2 setback. Also dropping were the median values of transactions in Santa Monica (8.5 percent), Pacific Palisades (7.8) and Manhattan Beach (4.9 percent).