Tribeca West Office Campus
Los Angeles, CA
Address:
12233 W Olympic Blvd, Los Angeles, CA 90064
Market:
Los Angeles - Westside
Building Size:
151,000 SF
Asset Class:
Multi-Tenant Office
Date Acquired:
February 2011
Date Sold:
September 2012
Status:
Sold
Property Description
Originally built in 1980, Tribeca West totals 151,000 square feet within eight two-story buildings and is recognized as one of the pre-eminent class A media campuses in West LA. Ocean West acquired the property in 2011 and immediately commenced a $2 million renovation and installed a new management team that was familiar with the intricacies of the post-production leasing requirements of the entertainment industry. Improvements to the property included exterior painting, wood cladding throughout the common areas, a striking water feature at the entrance of the campus, and a dog run. Ocean West increased income by over 20% within a year of acquisition and subsequently sold after 18 months to a strategic buyer.