Affiliate of The Luzzatto Company, Inc. Purchases 14,200 Square Foot Creative Office Property in Culver City, CA
SANTA MONICA, CALIF. (January 9, 2017) – 10401 Jefferson, LP, an affiliate of Santa Monica-based The Luzzatto Company, Inc. has acquired the 14,200 square foot creative office property at 10401 Jefferson Blvd., Culver City, Calif.
The property is located just east of Overland Avenue in a thriving pocket of creative office properties and is situated on approximately 0.42 acres of land. The Property is currently 100% leased to tenant Magento, a subsidiary of Ebay Inc. Following the expiration of Magento’s lease in April, renovations will commence to convert the two-story building into a premium creative office asset with a new lobby, outdoor deck, façade, windows and premium interior buildout. Delivery is expected to occur in October of 2017.
“We were attracted to this property because of the limited supply of creative office conversion opportunities on the Westside in this size range. We intend to deliver a best-in-class creative office design coupled with an attractive parking ratio” said Ron Harari, Principal and Managing Director of The Luzzatto Company, Inc. “The property will allow tenants an opportunity to project their own identity on an entire building.”
Ron Harari and Max Baldi directed the acquisition on behalf of The Luzzatto Company, Inc.
The buyer was represented by Aleks Trifunovic and Keith Fielding of Lee & Associates West Los Angeles; the seller was represented by Tibor Lody of Lee & Associates West Los Angeles.