Archway Holdings expands Hollywood footprint with $24M office buy

Investment firm has properties spread across city

Apr.April 15, 2019 03:01 PM
900 Seward Street and Jeffrey Moghavem, director of asset management at Archway (Credit: CBRE)

Archway Holdings is expanding its footprint in Los Angeles with the purchase of a fully-leased 40,300-square-foot office building in Hollywood.

The Beverly Hills-based real estate investment firm bought the building for $23.5 million, records show. It closed late last month. The two-story complex, at 900 Seward Street, is fully leased to Deluxe Entertainment, a content distribution company.

CBRE’s Mike Longo, Todd Tydlaska and Sean Sullivan represented the seller, New York City-based Curo Enterprises. It acquired the property in 2015 for $19 million, records show. Archway represented itself.

Archway renovated the office building at 1800 Vine Street, which is leased to co-working firm Spaces. Archway’s assets include multifamily developments, medical offices, along with retail and industrial properties in California and across the country.

Demand for Hollywood office and production space continues to be strong, which has been driving investor demand, according to a fourth-quarter CBRE report. The firm said large blocks of space are in short supply in Hollywood, where existing assets are shrinking and new construction is pre-leased.

Nearby, J.H. Snyder Company owns a creative campus at 959 Seward Street that is also leased to Deluxe Entertainment, along with other media-related tenants, such as streaming startup Quibi.

Related Articles

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

From left: Owen Fileti, and Felipe Gomez

Startup brokerage HelloOffice expands to LA, hires former top LA Realty broker

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando