By Razvan Cimpean
Michelson Foundation, Universal Protection Services and Complete Care leased 22,724 square feet at 3000 South Robertson, a 109,000-square-foot office building in Culver City, Calif.
The four-story asset is located at 3000 S. Robertson Blvd., just off Interstate 10. The property offers easy access to multiple hotels, public transportation, dining and shopping options, including Father’s Office, PLATFORM Shopping Center and The Culver Hotel. Owned and managed by Watt Investment Partners, the office building features 322 parking spaces. Tenants include OnlineSecurity, Allied Universal and Landlord Legal Services.
Recently, the property underwent a $5 million creative renovation led by Wolcott Architecture. The process includes a renovated central courtyard with outdoor seating, street-facing fencing along Robertson Boulevard and an upgraded main lobby.
Michelson Foundation will occupy 11,699 square feet, while Universal Protection Services leased 6,689 square feet. Additionally, Complete Care will use a little more than 4,300 square feet for its new office. Newmark Knight Frank’s Vice Chairman Brad Feld and Managing Director Alex Bergeson negotiated the lease on behalf of the landlord.
“The Helms Bakery District/Downtown Culver City has leapfrogged Playa Vista as the hottest, most sought-after submarket in Los Angeles. The ongoing gentrification, transit connectivity and trendy restaurants and bars have been the fuel behind this submarket’s rise to the top,” Feld said in a prepared statement.
According to Yardi Matrix data, Watt Investment Partners acquired the asset in 2015 for $26.7 million. The sale was subject to a $22.4 million loan provided by RAIT Financial. Earlier this year, another asset owned by Watt Cos., Watt Plaza in Century City, became the first LEED Platinum building in the area.
Image courtesy of Newmark Knight Frank