A high-visibility office property located at 11222 South La Cienega Boulevard in Inglewood has been listed for sale at $29 million, or approximately $303 per square foot. The five-story, 95,760-square-foot building sits on a 1.02-acre parcel directly adjacent to the 405 freeway. Coldwell Banker Dynasty, representing La Cienega Partners, LLC, is marketing the asset as a rare repositioning opportunity in one of Southern California’s most heavily trafficked corridors.
According to marketing materials, the property is currently vacant and will be delivered free of tenant encumbrances, offering flexibility for redevelopment or corporate branding. The building features freeway frontage, providing exposure to an estimated 800,000 vehicles daily along the 405 and 105 interchange. The site is just 1.6 miles from Los Angeles International Airport, one of the busiest airports in the world.
Based on the brochure, the South La Cienega Boulevard asset includes additional income streams through existing infrastructure. A rooftop cell antenna tower generates approximately $17,200 in monthly income, with ownership reportedly fielding offers in the $3 to $4 million range for tower acquisition. In addition, a super graphic wall facing the freeway has historically drawn advertising from major international brands including Panda Express, Virgin Atlantic, and Blue Cross Blue Shield. The signage component is currently producing between $33,000 and $55,000 per month, with an estimated 55 percent of that revenue flowing directly to ownership. However, the listing suggests that a more aggressive leasing strategy could push monthly signage income to over $65,000.
This is the first time the asset has been brought to market under current ownership, and brokers highlight its appeal for users and developers alike. Suggested redevelopment scenarios include conversion to market-rate or affordable housing, senior living, hotel, student housing, or mixed-use configurations. Based on the brochure, end-users can leverage the building’s branding potential at what brokers are calling a “trophy location” for corporate visibility and freeway signage exposure.
Coldwell Banker Dynasty’s Andrew Cromartie is handling the listing.
According to Kidder Mathews’ Los Angeles Office Market Report for the fourth quarter of 2024, the market continues to face upward pressure on vacancy and availability. The direct vacancy rate rose to 15.8 percent, up from 14.8 percent in the same quarter last year — a 6.75 percent year-over-year increase. Similarly, the total availability rate climbed to 20.5 percent, reflecting a 6.73 percent increase compared to last year’s 19.2 percent. Despite the rise in vacancy, the direct asking lease rate remained flat year-over-year at $3.47 per square foot, indicating that landlords are holding firm on pricing amid broader market challenges.
