REBusinessOnline

SteelWave Acquires The Switchyard Creative Office Campus in Los Angeles for $80M

Switchyard-500-Santa-Fe-Los-Angeles-CA

The Switchyard in Los Angeles features 150,451 square feet of creative office space spread across two buildings: 500 (pictured) and 540 Santa Fe Ave.

LOS ANGELES — San Francisco-based SteelWave has purchased The Switchyard, a Class A creative office campus in the Arts District of Los Angeles. Los Angeles-based CEG Construction sold the property for $80 million.

The Switchyard consists of two low-rise office buildings, offering a total of 150,451 square feet, located at 500 and 540 S. Santa Fe Ave. Constructed in 2019, the 500 property consists of a newly constructed five-story creative office building totaling 100,000 square feet and offering ground-floor retail space and a penthouse with an open deck. The 540 property consists of a two-story, 50,888-square-foot building, which was built in 2012. Both buildings feature secured parking and gated and secured entry.

SteelWave plans to implement a capital improvements program at the campus, including updating the buildings’ exteriors and improving on-site amenities.

Mike Condon Jr., Steve Marcussen, Erica Finck and Bailey Dawson of Cushman & Wakefield represented the buyer and seller in the deal. Cushman & Wakfield’s Peter Collins, Brittany Winn, Scott Menkus and Alexa Delahooke provided market leasing advisory, while Rob Rubano, Brian Share, Joseph Lieske, Ernesto Sanchez, Keith Padien and Greg Napper of Cushman & Wakefield assisted the buyer with financing.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ NAI Global
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties