Fully leased C3 campus in Culver City seeks $280M

IDS Real Estate developed the 311K sf property with PNC Realty Advisors

Los Angeles /
Jan.January 16, 2019 02:00 PM
From left: IDS’ CEOs David G. Mgrublian and Murad Siam, and PNC Chairman William Demchak, with the C3 campus in Culver City

A newly built office campus leased to a mix of tech and entertainment tenants has hit the market, the third large Westside office property to come on sale in the last month.

The developers are seeking $280 million for C3, a 311,000-square-foot modern office building in booming Culver City, The Real Deal confirmed. That pencils out to about $900 per square foot.

A joint venture between IDS Real Estate and a pension fund managed by PNC Realty Advisors completed the project about 15 months ago. It has since been fully leased.

Gensler designed the seven-story campus, located at 5800 Bristol Parkway. It features a private fitness center, an outdoor kitchen, bocce courts, a dog park and an amphitheater.

Newmark Knight Frank has the listing. Real Estate Alert first reported the news.

ByteDance, a Chinese media startup with a $75 billion valuation, recently brought the campus to 100 percent occupancy with its 119,000-square-foot lease. Other tenants include music management company Red Light Management, marketing firm Dentsu Aegis Network and Henkel, a consumer brand company .

C3 is the latest property to hit the market this month as developers look to capitalize on a strong office market and high occupancy rates at their buildings. Last week, Tishman Speyer put two of its office campuses in Playa Vista — the Brickyard and Collective — on sale for a combined $600 million or higher. They are leased by Facebook and Yahoo, respectively.


Related Articles

arrow_forward_ios
Gov. Gavin Newsom with Doug Ose and John Cox (Getty, Twitter)
Real estate execs among challengers in Newsom recall
Real estate execs among challengers in Newsom recall
2575 E El Presidio Street and Thor Equities Chairman Joe Sitt
Thor Equities pushes into LA industrial market
Thor Equities pushes into LA industrial market
Rendering of the new Pasadena office and existing building inset. (JLL, 101 South Marengo)
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
PPIH President & CEO Naoki Yoshida and TPG Capital Partner Paul Hackwell (Linkedin, Getty)
TPG Capital selling SoCal-based Gelson’s Markets
TPG Capital selling SoCal-based Gelson’s Markets
MDT Properties Marc Tavakoli and 627-631 N. Dillon Street (Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
Shovel-ready site in Silver Lake trades for $3.5M
Shovel-ready site in Silver Lake trades for $3.5M
Michael Hackman and 9050 Washington Boulevard (Google Maps, iStock)
Hackman Capital pays $160M for Sony animation studio
Hackman Capital pays $160M for Sony animation studio
(iStock)
LA County sued over commercial eviction moratorium
LA County sued over commercial eviction moratorium
The future of San Francisco’s Oceanwide Center is up in the air again (Getty, Foster and Partners)
Contractors pull out as Oceanwide Center sale falls through again
Contractors pull out as Oceanwide Center sale falls through again
arrow_forward_ios

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

Loading...