By Lilly Riddle
An office building in Culver City could soon have a new owner. JLL has listed an opportunity to acquire a 100 percent fee simple interest in Bristol Plaza, a 92,000-square-foot office building located at 6167 Bristol Pkwy in Culver City. The property, situated on a 2.61-acre lot, offers investors a unique prospect in a market that is rapidly growing as a hub for the entertainment and technology industries.
Bristol Plaza has several investment highlights that make it a potentially appealing opportunity for buyers, such as secure tenancy, with 20 percent of the property’s current occupants consisting of medical and dental tenants who have made substantial investments in their spaces. Some of its tenants include Fuller Smiles and Silicon Beach Pediatric Dental. This indicates a commitment to long-term tenancy and provides stable income potential for investors, according to the marketing brochure from JLL.
The property, currently owned by an entity affiliated with Jade Enterprises — a real estate investment and development firm based in Los Angeles — was last sold in 2015 for $24 million. It also recently secured an 8,000-square-foot lease with the County of Los Angeles at a rate of $4.10 per square foot, full-service gross, demonstrating strong demand for space within the building.
According to the brochure, Culver City is experiencing a surge in growth, particularly in the media, entertainment and gaming sectors. Major companies like TikTok, Netflix, Sony, Amazon, Apple and HBO Max have expanded their presence in the area.
With a total of 360 parking spaces, including a garage with 149 covered stalls, Bristol Plaza has a parking ratio of 3.9 spaces per 1,000 square feet. It is also positioned within a 15-minute drive of both downtown Culver City and Playa Vista, a neighborhood of Los Angeles known as the former headquarters of Hughes Aircraft Company. The property also offers convenient access to El Segundo, Santa Monica and Century City.
The property’s 2.61-acre lot also provides an opportunity for future development and expansion, allowing investors to capitalize on the growing demand for commercial space in the area and potentially increase the property’s value over time. Recent transactions in Culver City have predominantly been at or above $1,000 per square foot, according to marketing documents, making Bristol Plaza’s offering an attractive entry point for investors seeking to capitalize on the area’s upward trajectory.
The property, which was renovated in 2018, features a diverse mix of medical, office and creative spaces, catering to a wide range of tenants. The combination of its strategic location, strong tenant base, parking space, development potential and pricing could make Bristol Plaza a compelling investment opportunity.
Andrew Harper, Jeff Bramson and Will Poulsen of JLL led the marketing efforts for this property.
