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The Real Deal Los Angeles

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

Seller Kennedy Wilson acquired it for $25M in 2012

July 12, 2016 12:00PM
By Cathaleen Chen

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The office building at 10390 Santa Monica Boulevard Archway Holdings president Sean Moghavem (credit: CoStar, signup4.net)

The office building at 10390 Santa Monica Boulevard Archway Holdings president Sean Moghavem (credit: CoStar, signup4.net)

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.

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