{"id":1004162633,"date":"2016-12-28T06:46:09","date_gmt":"2016-12-28T14:46:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004162633"},"modified":"2020-05-13T22:13:06","modified_gmt":"2020-05-14T06:13:06","slug":"japanese-owner-emerges-for-google-anchored-hercules-campus-in-la","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/japanese-owner-emerges-for-google-anchored-hercules-campus-in-la\/","title":{"rendered":"Japanese Owner Emerges for Google-Anchored Hercules Campus in LA"},"content":{"rendered":"<p><em>By Veronica Grecu<\/em><\/p>\n<div id=\"attachment_1004162636\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Rendering-of-Hercules-Campus-West.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004162636\" data-attachment-id=\"1004162636\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/japanese-owner-emerges-for-google-anchored-hercules-campus-in-la\/rendering-of-hercules-campus-west\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Rendering-of-Hercules-Campus-West.jpg\" data-orig-size=\"620,406\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rendering of Hercules Campus West\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rendering of Hercules Campus West&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Rendering-of-Hercules-Campus-West.jpg?w=620\" class=\"wp-image-1004162636 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Rendering-of-Hercules-Campus-West.jpg\" alt=\"Rendering of Hercules Campus West\" width=\"300\" height=\"196\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Rendering-of-Hercules-Campus-West.jpg 620w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Rendering-of-Hercules-Campus-West.jpg?resize=300,196 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004162636\" class=\"wp-caption-text\">Rendering of Hercules Campus West<\/p><\/div>\n<p><strong>Los Angeles<\/strong>\u2014The four-building office campus in Los Angeles that includes the hangars where Howard Hughes once built the 200-ton Hercules H-4 plane, popularly known as the Flying Boat or the \u201cSpruce Goose\u201d, is off the market.<\/p>\n<p>HFF recently announced that the Hercules Campus West in Playa Vista, Calif., was sold to a Japanese corporate investor. Though financial terms of the transaction remained undisclosed,<em> <a href=\"https:\/\/therealdeal.com\/la\/2016\/12\/20\/japanese-company-in-advanced-talks-to-buy-googles-spruce-goose-hangar-for-more-than-300m-sources\/\" rel=\"nofollow\">The Real Deal<\/a><\/em> estimates that the sellers\u2014the Ratkovich Co. and Penwood Real Estate Investment Management\u2014sold the roughly 358,000-square-foot property for approximately $320 million.<\/p>\n<p>HFF\u2019s John Crump, Andrew Harper, Michael Leggett, Doug Bond and Ryan Gallagher negotiated the deal on behalf of the sellers, while the Japanese buyer was represented by EGW Asset Management Inc., a real estate services firm based in Tokyo.<\/p>\n<p>\u201cThe buyer focuses on long-term net leased assets in major global markets. Hercules Campus has a superb and iconic profile and having an investment grade credit tenant was highly appealing,\u201d said EGW\u2019s Per Reid in prepared remarks.<\/p>\n<p>Located at 5865 Campus Center Drive, the Hercules Campus was built between 1941 and 1953 by Hughes Aircraft Company (HAC) under plans designed by Henry Gogerty. The Ratkovich Co. purchased the 28 acres containing 11 historic buildings and, according to <a href=\"https:\/\/www.laconservancy.org\/locations\/hercules-campus\">Los Angeles Conservancy<\/a>, went on to redevelop the site into modern, cutting edge office and production space for creative media, naming the site in honor of Hughes\u2019 H-4 \u201cHercules\u201d that was built here. In 2014, the site\u2019s owner earned a Conservancy Preservation Award for the work to preserve the historic buildings.<\/p>\n<p>The Spruce Goose hangar is leased to Google, who plans to break ground on an adaptive reuse project that will transform the place into roughly 418,600 square feet of office space.<\/p>\n<p><em>Rendering courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tech giant plans to break ground on an adaptive reuse project that will transform a historic airplane hangar into office space.<\/p>\n","protected":false},"author":258,"featured_media":1004162636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,1594,21742,21747,15],"tags":[33286,32792,33287],"class_list":["post-1004162633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-los-angeles","category-latest","category-office","category-west","tag-google","tag-hff","tag-the-ratkovich-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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