Archway Holdings expands Hollywood footprint with $24M office buy

Investment firm has properties spread across city

Los Angeles /
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

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
Burbank Studios with Blackstone's Nadeem Meghji and Jeffrey Worthe (Google Maps)

Blackstone partners with Worthe Real Estate on 500K sf office tower

Blackstone partners with Worthe Real Estate on 500K sf office tower
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)

Continuum Partners, Platinum Equities plan Arts District office tower

Continuum Partners, Platinum Equities plan Arts District office tower
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
The Beverly Hills office (Credit: Google Maps)

Sam Hakim-led family firm pays $36M for Beverly Hills office

Sam Hakim-led family firm pays $36M for Beverly Hills office
Onni Group’s Rossano De Cotiis and a Wilshire Courtyard rendering

Onni Group’s Wilshire Courtyard overhaul would triple square footage

Onni Group’s Wilshire Courtyard overhaul would triple square footage
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
arrow_forward_ios

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

Loading...