3309 La Cienega Place, a 17,490-square-foot warehouse property located adjacent Lincoln Property’s Blackwelder complex and nearby the Metro Expo Line has traded hands for $11.7M. The buyer, Bow West Capital plans to convert the property into a creative office compound of more than 25,000 SF. Andrew Sinasohn and Jake Zacuto of Century City-based Zacuto Group brokered the all-cash deal and are consulting on the project’s development.
“3309 La Cienega Place provides a unique value-add opportunity for Bow West, because of its excellent location and the ability to add square footage. Despite being in competition with several prospective buyers, we worked with our client to structure a deal which the owners could not refuse – this was done through the implementation of an expedited due diligence process and an accommodating schedule to relocate the current owners elsewhere, among other things.”
-Andrew Sinasohn, V.P. and Director Of Business Development.
Currently dubbed ‘LCP’, Developer Bow West Capital is capitalizing on the area’s appeal to tech & media companies looking for central transit friendly locations and unique adaptive re-use creative spaces. LCP will feature multiple level units ranging from 3,000-7,000 square feet with designer kitchens, glass roll up doors, 20+ foot ceilings move-in ready with designer finishes.
“LCP is going to be one of the highest quality projects in the area with incredibly well thought out use of space and elements designed to maximize natural light. In a market where every value-add purchaser is trying to do the same thing, this project will stand out with the unique livability of the designs, flexibility in size, quality of finishes, and indoor/outdoor open-air features.”
-Jake Zacuto, Managing Director
Zacuto & Sinasohn have been retained by Bow West to lease the project. In addition to completing the sale, Sinasohn & Zacuto
(along with Zacuto Group V.P. Chris Maese) represented the Seller, Bob Gail Enterprises on an 11,660 SF relocation to Inglewood, CA.