Sale of North Hollywood creative office building closed by HFF
LOS ANGELES, CA – June 7, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of 12020 Chandler Boulevard, a four-story, 118,842-square-foot, creative office building in North Hollywood, California.
HFF marketed the property on behalf of the seller, PCCP, LLC, and procured the buyer, Claymark Capital, LLC.
12020 Chandler Boulevard is situated at the intersection of Chandler and Laurel Canyon Boulevards in North Hollywood, a “micro” market in Los Angeles County that is equidistant between Hollywood and Burbank. Across the street from the property is the Los Angeles Metro’s Orange Line, connecting from Chatsworth to Hollywood to downtown Los Angeles. Additionally, the property is less than one mile from the 101 (Ventura) Freeway and close to the 170 and 405 Freeways providing access to the greater Los Angeles area and Los Angeles International Airport. Most recently renovated in 2008, 12020 Chandler Boulevard offers tenants a creative office build-out featuring 14-foot slab-to-slab height, exposed ceilings and polished concrete. The 77-percent-leased property is leased to two entertainment-oriented tenants: Pilgrim Studios and Screen Engine/asi.
The HFF investment sales team representing the seller was led by director Andrew Harper.
About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has approximately $6.4 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns. Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $12 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.
About Claymark Capital, LLC
Claymark Capital, LLC is a privately held commercial real estate investment company. The Company specializes in the acquisition, disposition, operation, construction, leasing and ownership of office, medical, residential and retail properties. It is geographically focused on the Southern California region and Los Angeles, primarily because these markets boast density, strong economic drivers and high barriers to entry. Founded in 2008 by Patrick Ahn & Scott Burrin, Claymark Capital, LLC focuses on targeting specific assets in carefully calculated growth submarkets.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.