In a new development opportunity for investors, a 4.53-acre development site in Culver City has recently been placed on the market. The site, which is located at 5860 West Jefferson Blvd., is entitled for a 344,947 square foot building, according to Newmark, which is listing the property as exclusive advisor.
Brokers on the listing include Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll. Guidance pricing was not disclosed.
The Eric Owen Moss-designed building was developed by Samitaur Constructs in 2018. The site is currently home to Tin Can Studios, a 55,564 square foot studio building leased in its entirety to Nike until 2029. The building is utilized as the company’s flagship studio space for global brand imaging operations.
Plans for development at the site would include a 22-story building at a height of 320 feet. The site has not been available for development in the past 40 years, according to Newmark.
Culver City is a hotbed for tech and media companies, attracting industry giants such as Sony, Google, HBO and Amazon Studios, among others. The property is also just three minutes away from Ivy Station and is only one block from the La Cienega Jefferson Metro Station.
Several other nearby properties have been placed up for sale in the past several months. A 1.64-acre development site, also in Culver City, was put on the market earlier this year, according to The Registry’s previous reporting. The site offers the potential for up to 214,000 square feet of future development. The property is located at 3958, 3962 Ince and 9046 Lindblade Street and is currently developed with a four-building, 46,8001 square foot creative campus, also featuring designs from Eric Owen Moss.
