Artisan Realty Advisors pays $61M for Space 15 Twenty complex in Hollywood

The retail property is home to Urban Outfitters, Umami Burger, Free People and Pharmacy Boardshop

May.May 31, 2018 02:00 PM
Space 15 Twenty with Artisan Realty Advisor executives Mark Laderman and Collin Komae

There’s more than just clothes trading at an outdoor retail complex in Hollywood.

Artisan Realty Advisors, a Santa Monica-based real estate investment firm, spent $61 million for the 40,000-square-foot Space 15 Twenty complex. The deal was announced Thursday.

The sellers were the LLCs Cahuenga Lofts and Ivar Group, which are tied to Gil Zahevi, Asher Tal and Yigal Reani through property records. The two LLCs paid $13.3 million for the complex in July 2006, property records show.

Located across from Amoeba Records, the complex at 1520 N. Cahuenga Boulevard includes fashion retailers Urban Outfitters and Free People, trendy hamburger spot Umami Burger, and skate shop Pharmacy Boardshop. It consists of two buildings, at Cahuenga Boulevard and Ivar Avenue, and a parking lot that sits atop a 71,000-square-foot land parcel.

Cory Stehr of Lee & Associates represented the sellers.

Artisan, led by former Tishman Speyer executives Mark Laderman and Collin Komae, also own the Lantana Center in Santa Monica. They purchased that 484,800-square-foot office campus alongside Brightstone Capital Group for $400 million in October 2016. It recently leased 50,000 square feet to the Tennis Channel, which will be taking over the space originally occupied by Beachbody.

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