BLT Enterprises has acquired two office/flex properties encompassing more than 26,000 square feet in Hollywood, Calif., from separate sellers. Architecture firm Shook Kelley and a private investor sold the assets for a total of $20 million. Lee & Associates negotiated on behalf of the buyer and Shook Kelley, while TOLD Partners assisted the second seller.
An 8,446-square-foot creative office project located at 5735 Melrose Ave. traded for $8.6 million, public records show. Completed in 1952, the property underwent renovations under the previous ownership. BLT Enterprises Founder & President Bernard Huberman revealed they may convert the screening room into a recording studio. The building is half a mile from Paramount Pictures Studio and some 2 miles south of Hollywood Boulevard.
The second property is an 18,000-square-foot production and entertainment office building at 6151 Santa Monica Blvd. The two-story property opened in 1986. The buyer intends to transform the structure into a creative facility serving advertising agencies and production companies, according to Huberman. The building is 1 mile from the Hollywood Walk of Fame and the Melrose Avenue property.
TOLD Partners’ Adam Hall negotiated on behalf of the private investor. The Lee & Associates team assisting the buyer included Brad McCoy and David Wilson., while McCoy and colleague Paul Brehme represented Shook Kelley. Last year, another Lee & Associates team arranged the $26 million sale of an eight-property industrial portfolio in Glendale, Calif.