Flexible office provider Knotel enters LA market with Santa Monica outpost

The startup said it will add more locations in city in coming months

TRD LOS ANGELES /
Feb.February 15, 2019 09:00 AM
Knotel CEO Amol Sarva and 429 Santa Monica Boulevard

Shared office space company Knotel will open its first Los Angeles outpost in Santa Monica, expanding its U.S. reach from New York and San Francisco.

Knotel will lease 12,388 square feet across the third and fourth floors at 429 Santa Monica Boulevard, the company announced. The seven-story building is a few blocks from the beach and from the Metro Expo Line’s Downtown Santa Monica station.

Company founder Amol Sarva said in a statement that the firm expects to add “several more locations here in the coming months, and plan to expand in more cities during the year.”

Ray Howden at Cresa represented Knotel in the transaction. Robert Cavaiola and Shay Bolton of Savills Studley represented the sublandlord, Inventure Capital Corporation.

Douglas Emmett owns the building. The firm purchased it from Blackstone in 2017 for just under $74 million as part of a larger deal.

Sarva has billed the New York-based startup as an alternative to rivals that “spend a lot of money and lose a lot of money,” he has said.

Founded three years ago, Knotel takes office space under leases or management agreements and sublets them to companies, using flexible terms. Overseas, it also has offices in Berlin, London and Sao Paolo.


Related Articles

arrow_forward_ios
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
Menlo Equities’ Rick Holmstrom, Walton Street’s Eric Mogentale, and the campus

Menlo Equities pays $43M for San Dimas office complex leased to defense contractors

Menlo Equities pays $43M for San Dimas office complex leased to defense contractors
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
From left: NortonLifeLock’s Vincent Pilette, Northwood Investors’ John Krukal, and the property (Credit: Google Maps)

Northwood Investors pays $120M for Culver City office complex

Northwood Investors pays $120M for Culver City office complex
(iStock)

SoCal developers say demand for office, retail space will continue to drop

SoCal developers say demand for office, retail space will continue to drop
(iStock)

LA County sublease space hits record level in Q2

LA County sublease space hits record level in Q2
Lowe co-CEO’s Mike and Rob Lowe, Related Fund Management’s Justin Metz, 2130 Violet Street

Related affiliate joins with Lowe to build Arts District office complex

Related affiliate joins with Lowe to build Arts District office complex
WS Communities CEO Scott Walter and VP of Finance Gregory Proniloff, Madison Realty Capital’s Josh Zegen, 1433 Euclid Street in Santa Monica; and rendering of mixed-use project at 3030 Nebraska Avenue in Santa Monica (Credit: Google Maps and Madison Realty Capital)

WS Communities nabs $150M loan for six renovations and a development site

WS Communities nabs $150M loan for six renovations and a development site
arrow_forward_ios

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

Loading...