Century City’s ArcWest Partners announced Wednesday the firm has acquired a 30,000-square-foot historic office building in Silver Lake.
ArcWest Partners is a joint venture between L.A.’s Arc Capital Partners and Belay Investment Group. It plans to renovate the two-story building at 2807 Sunset Boulevard into creative office space and retail.
Barbara Bestor of Silver Lake’s Bestor Architecture has been tapped as the lead architect. Her firm designed Nasty Gal’s downtown headquarters as well as the Culver City headquarters of Beats Electronics.
The Silver Lake building, constructed in 1928, is ArcWest Partners’ second acquisition in Los Angeles. It previously acquired and is restoring Chapman Market, a historic retail center in Koreatown.
ArcWest Partners targets value-add and opportunistic acquisitions in urban submarkets experiencing strong millennial demand growth.
Residential real estate reporter Helen Zhao can be reached at email@example.com. Follow her on Twitter @zhaomeow.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- ArcWest Receives Additional $100M
- Arc Capital Receives $100M From Belay Investment for ArcWest Acquisitions
- Buyer Pictures Plaza in Koreatown as Hot Spot
- Councilman Suffers Monumental Defeat
- Rooftop Decks Prove Draw at Homes too Small for Traditional Backyards
- Chapman Plaza Sells as Koreatown Hotspot
- Ares Management and TruAmerica Multifamily Acquire Arizona Apartment Building in $30 Million Deal
- Hudson Pacific Properties Sells Office Building, Land for $35 million