Newcastle and Westport buy $14M Culver City showroom for creative office conversion

Los Angeles /
Jul.July 18, 2017 04:00 PM

Not all industrial spaces are gobbled up by e-commerce companies. Some, instead, fall victim to L.A.’s ongoing creative office conversion craze.

In the latest example, Newcastle Partners Inc. and Westport Capital Partners plan to convert a former furniture showroom and warehouse near Culver City to a creative office building.

The firms scooped up the 40,000-square-foot building in a joint venture for $14.1 million from seller Claudia Johnson, according to Real Capital Analytics. 

The two-story property at 5830 Rodeo Road was previously home to European furniture retailer Charles & Charles Inc. 

The JV enlisted Shubin Donaldson and Del Amo Construction to design the site’s repositioning, Commercial Property Executive reported.  

Mike Geller and Josh Bernstein of First Property Corporation have the listing.

Newcastle completed construction on a 147,000-square-foot industrial building earlier this year at 17610 Harvill Avenue in Moreno Valley in Riverside County.

The San Francisco-based firm has completed the acquisition and development of more than 50 projects totaling over 15 million square feet, representing an investment of over $1.1 billion, according to its website. [CPE] — Subrina Hudson


Related Articles

arrow_forward_ios
The San Pedro Fish Market is one of the top-grossing restaurants in the U.S. (Getty, Facebook via San Pedro Fish Market and Restaurant / Photo Illustration by Alison Bushor for The Real Deal)
San Pedro Fish Market plans new “supersize” restaurant
San Pedro Fish Market plans new “supersize” restaurant
The Chateau Marmont (Getty) and protest signs (Unite Here Local 11)
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
(Getty, Immersive Van Gogh, iStock)
Former Amoeba Records building, facing demo, will host Immersive Van Gogh exhibit
Former Amoeba Records building, facing demo, will host Immersive Van Gogh exhibit
AMC CEO Adam Aron (Getty, Twitter via Aron)
Rolling: AMC looks to lease ArcLight, Pacific Theaters spaces
Rolling: AMC looks to lease ArcLight, Pacific Theaters spaces
The bill would allow developers to build homes on commercial sites. (Getty)
California wants to convert empty malls into housing
California wants to convert empty malls into housing
Small Business Administration administrator Isabel Guzman (Getty, iStock)
Starved for relief: Restaurants seek $76B, far more than budgeted
Starved for relief: Restaurants seek $76B, far more than budgeted
An aerial view of the development site (Google Maps)
Developer plans 76-unit rental complex in Hollywood
Developer plans 76-unit rental complex in Hollywood
Goodman CEO Greg Goodman and a rendering of the facility. (Goodman)
Goodman’s massive logistics center will target e-commerce tenants
Goodman’s massive logistics center will target e-commerce tenants
arrow_forward_ios

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

Loading...