El Segundo-based BottleKeeper, which makes insulated stainless steel containers that keep beer bottles cold, is expanding its footprint in a neighborhood becoming increasingly popular for creative startups.
The company signed a three-year lease on nearly 4,000 square feet of creative office space, Avison Young USA Inc. announced. The new office, at 219 W. Grand Ave., is three times the size of the company’s current space.
The building was recently converted from a bakery to a creative office building. It’s in El Segundo’s Smoky Hollow neighborhood, a new hotspot for creative businesses.
Avison Young’s Ted Simpson and Erik Stiebel represented BottleKeeper. Re/Max Estate Properties’ Matt Crabbs represented the landlord, Ruane Group.
“Our client wanted to stay in El Segundo, to occupy creative office space, and to be able to walk to amenities,” Stiebel said in a statement.
BottleKeeper was on “Shark Tank” in November where it received $1 million from Mark Cuban and Lori Greiner in exchange for a 5% stake in the company.
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HOLLYWOOD BUILDING SELLS
Demand for office properties in Hollywood continues to be high with investors looking for opportunities in the market. The most recent is Archway Holdings Corp.
The firm recently purchased a Hollywood office building with 40,315 square feet according to an April 15 announcement by CBRE Group Inc. Records show that the property, at 900 Seward St., sold for $23.5 million.
The seller, Curo Enterprises, was represented by CBRE’s Mike Longo, Todd Tydlaska and Sean Sullivan. Archway Holdings was self-represented. Longo said in a statement that Archway was interested in the property because of its proximity to companies like Netflix Inc., CNN Inc. and Live Nation Entertainment Inc.
Netflix in particular has been growing its presence in Hollywood in recent years.
Last fall, the streaming giant signed a 355,000-square-foot lease at Kilroy Realty Corp.’s Academy on Vine project and leased the entirety of Hudson Pacific Properties Inc.’s 13-story Epic building. Both Projects are still under construction. Netflix already leases 418,000 square feet at Hudson’s Sunset Bronson Studios lot.
The asking rate for Class A office space in Hollywood was $5.43 a square foot during the first quarter, according to data from Jones Lang LaSalle Inc., making it the fifth priciest office market in the county.
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DIALYSIS CLINIC GETS NEW OWNER
Real estate developer Meridian Inc. sold its 9,200-square-foot dialysis clinic in Long Beach for $8.4 million, the company said in an announcement last week. Meridian purchased the property last year for $2.45 million as part of a multibuilding purchase with plans to develop the dialysis clinic.
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