{"id":1004182334,"date":"2017-06-29T08:30:02","date_gmt":"2017-06-29T16:30:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182334"},"modified":"2022-12-06T21:19:56","modified_gmt":"2022-12-07T05:19:56","slug":"jv-acquires-historic-la-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/","title":{"rendered":"JV Acquires Historic LA Office Building"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004182338\" style=\"width: 374px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004182338\" data-attachment-id=\"1004182338\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/2807-sunset-blvd-silver-lake-la-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" 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;1&quot;}\" data-image-title=\"2807 Sunset Blvd., Silver Lake, LA\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2807 Sunset Blvd., Silver Lake, LA &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg?w=400\" class=\"wp-image-1004182338 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\" alt=\"2807 Sunset Blvd., Silver Lake, LA \" width=\"364\" height=\"283\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 364px) 100vw, 364px\" \/><\/a><p id=\"caption-attachment-1004182338\" class=\"wp-caption-text\">2807 Sunset Blvd., Silver Lake, Los Angeles<\/p><\/div>\n<p>ArcWest Partners, a <a href=\"https:\/\/www.commercialsearch.com\/news\/belay-investment-jv-bets-70m-on-portland\/\">joint venture<\/a> between Arc Capital Partners and Belay Investment Group, acquired a historic office building, with ground floor retail, in the Silver Lake neighborhood of Los Angeles. This purchase marks the partnership&#8217;s second acquisition in Los Angeles.\u00a0<\/p>\n<p>Located at 2807 Sunset Blvd., the 30,000-square-foot asset was originally built in 1928 and was last renovated between 2005 and 2007. The property features three retail units, a creative office space and a warehouse component.<\/p>\n<h2>Repositioning Plan<\/h2>\n<p>Bestor Architects will serve as the lead architect and The Assembly Group was chosen to program the\u00a0building&#8217;s repositioning.\u00a0<\/p>\n<p><em>\u201cBuilt in 1928, this building is one of the few historic commercial properties in Silver Lake,\u201d<\/em> said Neville Rhone, managing partner of Arc Capital Partners, in prepared remarks. <em>\u201cWe are repositioning the asset into vibrant creative office and retail space on this prime stretch of Sunset Boulevard.\u201d<\/em><\/p>\n<p>Carle Pierose of Industry Partners was retained as the property\u2019s office leasing broker, while Marc Finkel of RKF will lead retail leasing. Martin Agnew of Marcus and Millichap represented the seller.\u00a0<\/p>\n<p><em>\u201cIn this neighborhood, we have seen incredibly strong demand for architecturally distinctive space, but there is no supply. This project will be compelling for the many creative tenants that live on the east side of LA and we are already getting calls,\u201d<\/em> said Pierose, in prepared remarks.<\/p>\n<p><em>Image courtesy of\u00a0ArcWest Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This transaction marks the second Los Angeles acquisition for Arc Capital Partners and Belay Investment Group. Bestor Architects and The Assembly Group will handle the building&#8217;s repositioning.<\/p>\n","protected":false},"author":746,"featured_media":1004182338,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[36409,36466,36407,36468,36467,33384],"class_list":["post-1004182334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west","tag-arc-capital-partners-llc","tag-arcwest-partners","tag-belay-investment-group-llc","tag-industry-partners","tag-neville-rhone","tag-rkf"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JV Acquires Historic LA Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Acquires Historic LA Office Building\" \/>\n<meta property=\"og:description\" content=\"This transaction marks the second Los Angeles acquisition for Arc Capital Partners and Belay Investment Group. Bestor Architects and The Assembly Group will handle the building&#039;s repositioning.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-29T16:30:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T05:19:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/\",\"name\":\"JV Acquires Historic LA Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\",\"datePublished\":\"2017-06-29T16:30:02+00:00\",\"dateModified\":\"2022-12-07T05:19:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/2807-Sunset-Blvd.-Silver-Lake-LA-2.jpg\",\"width\":400,\"height\":310,\"caption\":\"2807 Sunset Blvd., Silver Lake, LA\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-historic-la-office-building\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JV Acquires Historic LA Office Building\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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