Thriving Creative Office Campus
Posted by Olive Hill Group in Blau Journal on Feb. 15th, 2019
Olive Hill Group, LLC, a Los Angeles-based private investor, operator and developer of commercial real estate, has completed approximately $21.4 million and 97,000 square feet in leasing activity at its newly renovated Class A creative office campus, The Courtyard at 200-300 Corporate Pointe in Culver City. Olive Hill has increased occupancy at the award-winning property from 72% to 95% just two and a half years after acquiring the asset.
In line with Olive Hill’s ongoing strategy to quickly reposition commercial assets to provide exceptional value and attract high-quality tenants including Paychex, Ipsos and Pearson, the firm recently completed a major redevelopment and rebranding of the property including upgraded seating areas in the courtyard and the addition of food truck loading zones, bike-share, an upgraded cafe, a new on-site fitness center, and hammocks within a lounge setting. Other amenities include free Wi-Fi throughout the courtyard, improved walkability, and modernized lighting.
Situated on the east side of the 405 Freeway near Jefferson Boulevard, 200-300 Corporate Pointe features a campus atmosphere, flexible outdoor work space, a soothing waterfall, and a lagoon.
“The recent addition of a national fortune 100 computer technology company as an anchor tenant at our culver city creative campus continues to solidify silicon beach’s position as one of the fastest growing, most dynamic tech markets in southern california,” says Tim Lee, principal, Olive Hill Group. “Tech jobs are the largest occupational category driving growth in the U.S. office market with companies like Facebook, Google and Microsoft adding 84,600 technology-related jobs between 2016 and 2026. The impact of this growth is being felt nationwide, and is especially prevalent in Silicon Beach, driving many other companies to expand and relocate to this area to be closer to regional tech growth.”
The tech footprint in Silicon Beach continues to expand with the addition of companies like ByteDance, a highly valuable Chinese tech start-up, moving into the area.
“Silicon Beach’s tech ecosystem is growing exponentially,” continues Lee. “This growth is fueled by the market’s relative affordability when compared to Los Angeles, as well as its proven ability to attract high-quality tech talent.”
Lee adds that today’s workers gravitate to highly amenitized space in walkable locations and confirms that Olive Hill’s properties offer these benefits.“Creative employers recognize that workers are drawn to lifestyle-focused properties that foster creative and collaborative work. The Courtyard at Corporate Pointe is a shining example of a creative workspace that delivers the true live/work/play experience demanded by today’s tenants.”
Headquartered in Downtown Los Angeles, Olive Hill Group is a privately-owned investor, operator, and developer of commercial real estate properties with a diverse portfolio of office and multifamily properties.
Olive Hill Group specializes in the repositioning and renovation of commercial assets, leveraging its fully integrated in-house platform of asset and property management to drive growth through long-term hold periods. The company is actively growing its investment portfolio by acquiring mid-tier to premium assets throughout Southern California.
Article released in Blau Journal, Global Real Estate News