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 protected]. Follow her on Twitter @zhaomeow.