Stockdale set to start medical office project in Beverly Grove

Flatiron-style structure will wedge in between Wilshire and San Vicente boulevards

Stockbridge Plans Medical Office Building in Beverly Grove
Stockdale Capital Partners' Steven and Shawn Yari with rendering of 656 South San Vicente Boulevard (Stockdale Capital Partners, Getty)

Stockdale Capital Partners will soon begin grading for a 12-story, Flatiron-style medical office and life sciences building in Beverly Grove.

The Brentwood-based developer led by Steven and Shawn Yari plans to start preliminary construction in December for the 145,000-square-foot building at 656 South San Vicente Boulevard, the Beverly Press and Urbanize Los Angeles reported. A formal ground-breaking is expected early next year.

The trapezoid-shaped building will replace a 10,000-square-foot Big 5 Sporting Goods store wedged in between Wilshire and San Vicente boulevards, set to close this month.  

Stockdale bought the property, a mile south of Cedars-Sinai Medical Center, in 2016 for $23 million. The site once housed a Montessori school, now demolished.

Plans for the project approved in 2022 call for a 230-foot tall building with 5,000 square feet of ground-floor shops and restaurants. A podium parking garage would serve 418 cars.

It would be the first new medical office building in the neighborhood in decades. The building is expected to be completed and open for tenants in 2027.

The medical office tower, designed by Downtown-based ZGF Architects, has floor-to-ceiling walls of glass, with rounded corners and a nod to Streamline Moderne architecture. The project’s cost in 2019 was pegged at $250 million.

Outdoor terraces carved on the San Vicente side of the building would contain landscaping against reflective windows.

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The controversial LEED Gold-certified project, in the works for seven years, was opposed during three failed appeals by a labor-backed group and local residents.

A CBRE leasing website for the property claims the building would rise 15 stories to 213 feet. A Stockdale website claims there will be parking for more than 450 cars.

“The site includes living gardens on the ground floor and upper floors, as well as a façade of glass and metal panels,” the leasing website says.

The medical office tower is among several large developments in the works along San Vicente north of Wilshire Boulevard, including a 203-bed patient tower at Cedars-Sinai Medical Center. The nine-story, 405,000-square-foot building would replace a parking lot and a medical building.

The site sits across Sweetzer Avenue from a property previously slated for redevelopment with a 20-story, 77-unit apartment tower, according to Urbanize.

Stockdale Capital Partners, founded more than three decades ago, has $2.8 billion in assets under management across the Western U.S., according to its website.

— Dana Bartholomew

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Stockdale's Shawn and Steven Yari with rendering of 656 South San Vicente Boulevard (Stockdale Capital Partners, Kilograph)
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From left: Shawn Yari and Steven Yari, managing principals of Stockdale Capital Partners, with a rendering of the tower
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Clockwise from top left: Harrison Street CEO Christopher Merrill, 2825 Santa Monica Boulevard, Stockdale Capital Partners' Steven Yari and Shawn Yari and 9090 Wilshire Boulevard (Harrison Street, Stockdale Capital Partners) 
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