Archway Holdings and 3D Investments buy Century City office building for $36M

Los Angeles /
Jul.July 12, 2016 12:00 PM

Beverly Hills real estate firms Archway Holdings and 3D Investments just bought a 79,000-square-foot Class A office building in West Los Angeles for $36 million.

The seller of the four-story building at 10390 Santa Monica Boulevard was Kennedy Wilson. It’s currently 84 percent occupied by tenants in various industries, including the French Consulate, Alcon Entertainment and Baby First TV.

In their partnership, Archway and 3D plan on making some capital upgrades, although Kennedy Wilson recently completed its own million dollar renovations on the building’s common area, building signage and other amenities, according to a release.

The new owners are considering further improvements to the building’s landscaping, signage, lighting, and hallways, Archway President Sean Moghavem told The Real Deal in an email. 

Considering the on-going development of the surrounding properties, including Westfield Mall and the Century Plaza Hotel, “the rents are poised to rise in this micro market,” he added. “This fits in to our core plus strategy.”

Together, the joint venture between Archway and 3D owns additional office buildings in Beverly Hills, Santa Monica, Hollywood and other submarkets in Southern California.

Lucent Capital’s Adam Emrani and Steven Yazdani, as well as Tony Price of L.A. Realty Partners represented Archway Holdings and 3D Investments in the deal. Kennedy Wilson was represented by L.A. Realty Partners.

The property, built in 1986, last traded hands for $25 million in 2012, according to CoStar.


Related Articles

arrow_forward_ios
Michael Rosenfeld,,Simon Reuben and David Reuben, with a rendering of Century Plaza (Credit: Presley Ann/Getty Images, and Dave Benett/Getty Images)

Michael Rosenfeld’s Woodridge Capital lands $275M loan for Century Plaza

Michael Rosenfeld’s Woodridge Capital lands $275M loan for Century Plaza
Century Plaza Towers (Credit: Minnaert via Wikipedia)

Here’s what tenants pay at 2.4M sf Century Plaza Towers

Here’s what tenants pay at 2.4M sf Century Plaza Towers
Matthew Perry and the apartment (Credit: Kevin Winter/Getty Images and Compass)

Matthew Perry slashes price on massive Century City penthouse

Matthew Perry slashes price on massive Century City penthouse
Michael Rosenfeld and a rendering of Century Plaza (Credit: Presley Ann/Getty Images for THR)

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza
From left: The Century tower and a Sierra Tower

LA condo sales had been improving in Q1: report

LA condo sales had been improving in Q1: report
Woodridge Capital Partners’ CEO Michael Rosenfeld and Sales Director Mary Ann Osborn with a rendering of the project

A $2.5B litmus test for the Century City luxury market

A $2.5B litmus test for the Century City luxury market
Former UCLA coach charged in admissions scandal lists Century City home

Former UCLA coach charged in admissions scandal lists Century City home

Former UCLA coach charged in admissions scandal lists Century City home
The end is near: Woodridge starts marketing Century Plaza condos after delays

The end is near: Woodridge starts marketing Century Plaza condos after delays

The end is near: Woodridge starts marketing Century Plaza condos after delays
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...