CIM Group is deepening its presence in Hollywood with another office development.
The L.A. firm is planning an eight-story project at 926 Sycamore Avenue with around 45,600 square feet of office space and 7,500 square feet of ground floor retail space, according to Urbanize. Renderings from a leasing brochure distributed by CBRE show three stories of office space atop five levels of parking.
Pricing is $5.25 per square foot with delivery expected in the fourth quarter of 2020, according to the brochure.
As recently as last June, CIM planned to expand a warehouse on the property into a four-story office building with 24,000 square feet.
The company owns numerous properties in the surrounding blocks and is developing office and multifamily assets there. The firm is currently building a 75,000-square-foot office building at the end of the block, at the corner of Romaine Street. SiriusXM signed a lease for 27,000 square feet there last May.
CIM is also developing a mixed-use project a few blocks away at 904 La Brea Avenue. It also recently completed work on a creative office project called Formosa West at a historic film production studio on N. Formosa Avenue. The television network Showtime signed a 45,000-square-foot lease there in January.