Hollywood, CA — Privately-owned real estate investment, development and finance company Bolour Associates Inc. (BOLOUR) has purchased a two-story, 32,500-square-foot, mixed-use building in the heart of an emerging Hollywood production epicenter. BOLOUR secured the property for $13.7 million, or $421 per-square-foot.
Located at 6432 Santa Monica Blvd., the building sits at the signalized corner of Santa Monica Boulevard and Cole Avenue, within the Hollywood Media District. The site is directly between the Paramount and Netflix studios, within their media ecosystems. Prominent boutique studios such as Red Studios and MILK are in immediate proximity as well.
“BOLOUR secured this property at a very attractive price-per-square-foot basis, allowing us to confidently enter into this building and this neighborhood, which is quickly becoming a go-to location for production-related companies of all types and sizes,” said BOLOUR CEO Mark Bolour. “This building’s high ceilings, hardwood floors and great natural light ensure it will meet the needs of its current tenants, as well as future tenants as this community grows and evolves.”
The 6432 building includes 17,500 square feet of ground-floor retail and 15,000 square feet of second-story office space. It is currently 100 percent occupied by tenants ranging from creative management and casting to production equipment rentals and photography studios.
The address has a walk score of 95, reflecting its location at the center of retail, office, hospitality and a booming multifamily market that has more than 5,332 residential units currently in its pipeline. It boasts 43,000 people within one mile and approximately one million people within five miles.
Brandon Michaels, Matthew Luchs and Andrew Leff of Marcus & Millichap represented both the property seller and BOLOUR. BOLOUR continues to seek similar opportunities across Southern California and other key U.S. infill markets.
About BOLOUR
BOLOUR is a fully integrated real estate investment, development and finance firm that invests in value-add assets in emerging and transit-oriented neighborhoods. Property types include: urban infill land, retail, industrial, multi-family and mixed-use. As part of its platform, BOLOUR provides individually designed debt solutions with a track record of offering quick closings and designing creative loan structures. The company is currently active in 17 states: California, Arizona, Texas, Oregon, Colorado, Idaho, Utah, Washington, Tennessee, North Carolina, Georgia, Pennsylvania, Massachusetts, Maryland, Virginia, Florida and Illinois, as well as the District of Columbia.
