After it last traded hands in 2021, a 36,252 square foot vacant office property in Century City is back on the market. According to a marketing brochure from Newmark, the property is located at 10281 W Pico Blvd. and listed with pricing guidance undisclosed.
The property is currently owned by a partnership between Harbor Associates and Amstar, according to The Registry’s previous reporting. In 2021, the duo acquired the property for $20.175 million, or about $556 per square foot.
Originally constructed in 1981, the four-story building received a $5.4 million renovation with designs from architecture firm Wolcott also in 2021. In addition to office space, the property also includes a three level parking garage with 65 parking stalls.
The property could serve a potential owner-user as was previously the case, according to Newmark. The property had formerly been owner-occupied by both the Los Angeles Rams and Spanish Broadcasting System.
Situated along Pico Boulevard, the property sits among various other well known companies, including Fox Studios. Google’s new 584,000 square foot campus also neighbors the site. Additionally, a number of retail, dining and hospitality amenities are within close proximity of the site.
Compared to other Los Angeles office submarkets, Century City has seen a strong office market. Century City boasts the most favorable vacancy rate of 11.1 percent among the Westside submarkets, along with the smallest percentage of available subleases at 3.7 percent, according to Newmark. The market’s direct asking rent averages at $6.78 per square foot per month.
