Hollywood Office Asset Trades
The building sold for $972 per square foot.
Ballard Partners has purchased 743 Seward St., an 11,269-square-foot office building in Los Angeles’ Hollywood media district. Plus Development Group sold the asset for $10.9 million, or $971,60 per square foot. Kidder Mathews worked on behalf of the buyer.
Designed by Plus Design Group, the three-story property features a rooftop terrace, a courtyard, direct elevator access, floor-to-ceiling steel frame windows and security card access. According to CommercialEdge, the property was completed in 2020.
Kidder Mathews Executive Vice President & Managing Director John Anthony, Vice President Christopher Steck and Senior Vice President Christopher Giordano led the team representing Ballard.
Los Angeles ranked sixth for office deliveries in 2022 across the U.S., with a little over 2.9 million square feet coming online. The West Los Angeles submarket drove growth, with more than 1.1 million square feet delivered. Some $154 million in office assets traded in metro L.A. during the first two months of this year, with vacancy clocking in at 14.6 percent, according to a recent report.