Colliers brokered the deal on behalf of the Buyer and Seller.
Los Angeles, Calif., January 28, 2025 – Colliers is pleased to announce the sale of a 57,868-square-foot mixed-use building in the Culver City submarket of West Los Angeles. Colliers’ Senior Executive Vice President Steve Solomon and Vice President Kristen Bowman exclusively marketed the property and led the acquisition process on behalf of the Seller, Rialto Capital, and the Buyer, Montana Avenue Capital Partners. The team’s diligent efforts resulted in a $14,850,000 ($256 per square foot) sale of the two-story, two-building campus at 5600-5650 W. Centinela Avenue, known as Campus 56.
“This is a rare acquisition of a campus in West Los Angeles that was vacant at the time of the transaction,” said Solomon. “Designed as collaborative, open co-working spaces, ideal for the hub of technology, entertainment, and media companies flourishing in the area, the Buyer has plans to find an innovation-focused tenant seeking flexible space, perhaps to serve as a headquarters, in a lively neighborhood.”
The buildings within the renovated 1.7-acre campus offer an innovative design intended to create cohesive, open-plan, and light-filled spaces. The location is ideal for work-life balance, with proximity to local amenities and major transportation routes, including Interstate 405 and La Cienega Boulevard. The campus also has on-site parking, EV-charging stations, bike storage, and several outdoor amenity areas.
“The Silicon Beach office markets have seen over 30.4 million square feet of leasing activity over the last five years,” said Bowman. “This asset strengthens the trend of recent office developments in the area to promote collaboration through open spaces & campus-style environments. This area has proven to be a choice location for enterprises seeking to create an employee-first environment focused on harnessing innovation.”
About Colliers
Colliers is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy and investment management. With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients. For nearly 30 years, our experienced leadership – with substantial inside ownership – has consistently delivered approximately 20% compound annual investment returns for shareholders. With annual revenues exceeding $4.5 billion and $99 billion of assets under management, Colliers maximizes the potential of property, infrastructure and real assets to accelerate the success of our clients, investors and people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
