CIM Group’s office complex project would add to growing portfolio in West Adams

The private equity firm planned a hotel and media building in neighborhood last year

Los Angeles /
Jan.January 09, 2019 10:00 AM
CIM Group Principal Counsel Nick Morosoff and 5600 W. Adams Boulevard (Credit: Google Maps)

CIM Group is bullish on West Adams.

An entity tied to CIM Group Principal Counsel Nick Morosoff wants to build a mixed-use project at 5600 West Adams Boulevard, which would add to the two existing constructions it has on the books there. The latest filing — in May but which had not been previously reported — would include three stories one level of underground parking.

CIM Group would need to demolish a single-family home and a former church on the property, which spans four lots.

The private equity firm purchased the property in 2017 for $4.2 million and is moving through the parallel design-permitting process, which is faster than doing each successively.

The office’s proximity to Culver City could be attractive to companies looking to be close to the Westside’s expanding media and tech hub, but without the cash to lease within Culver proper.

While CIM Group has focused much of its work in Hollywood, it has made a number of plays in West Adams recently. The firm plans to build a 78-key hotel less than a mile from the West Adams Boulevard site. In April, it secured a construction permit for a six-story building at 2231 South Western Avenue, a site to the east and closer to Jefferson Park than Culver City.

The company recently started work on the third and final office building at The Lot, a production studio complex in Hollywood. The six-story Courtyard Building includes nearly 100,000 square feet of office space.


Related Articles

arrow_forward_ios
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Adam Belfer and Asher Luzzatto with a rendering of the converted dairy

Luzzatto scores $49M construction loan for Sweetgreen HQ in West Adams

Luzzatto scores $49M construction loan for Sweetgreen HQ in West Adams
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
Asher Abehsera and the plaza (Credit: Google Maps)

New partnership poised to buy Baldwin Hills Crenshaw Plaza

New partnership poised to buy Baldwin Hills Crenshaw Plaza
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
arrow_forward_ios

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

Loading...