HBO Selects Ivy Station as New Corporate Headquarters
LOS ANGELES--(BUSINESS WIRE)--Apr 3, 2019--The Ivy Station development team of Lowe, AECOM-Canyon Partners and Rockwood Capital announced today that it has executed a long-term lease with HBO for the entire 240,000-square-foot office building at Ivy Station, its large-scale mixed-use development currently under construction adjacent to the Culver City station of the Los Angeles Metro Expo Line. In addition to the office building, Ivy Station will feature 200 apartments, 50,000 square feet of ground floor retail and restaurant space, a 148-room boutique hotel, two acres of publicly accessible outdoor space, and 1,500 below-grade parking spaces, 300 of which will be dedicated for use by Metro transit riders.
“HBO is an ideal business anchor for Ivy Station, bringing to the property creative professionals that will enjoy access to public transit, host out of town guests at the hotel, and frequent the shops and restaurants that will populate the ground floor town square-style retail space,” said Tom Wulf, Executive Vice President, Lowe.
Ivy Station’s five-story, 240,000-square-foot, state-of-the-art office building, designed by Ehrlich Yanai Rhee Chaney Architects (EYRC), is positioned along Venice Boulevard. The building provides large flexible floorplates, abundant natural light and operable windows. Taking advantage of the Southern California climate, it also offers extensive outdoor balconies where the indoor environment blends seamlessly with the outdoors.
Ivy Station’s large landscaped outdoor area will be programmed with a host of activities such as movie nights, art shows and concerts to appeal to Ivy Station residents and businesses, commuters, and neighbors. With multiple points of access, the property encourages the public, Metro riders, Ivy Station residents and employees to walk or bike through this bustling area of Culver City.
Bounded by Venice, National and Washington Boulevards, Ivy Station’s prominent 5.2-acre site is located predominantly in Culver City with a portion, along Venice Blvd, located in the City of Los Angeles. Ivy Station is an approximately 500,000-square-foot mixed-use campus designed in a contemporary style with mid-rise buildings set on the property to provide multiple view corridors to visually connect with the surroundings. Designs for the apartments and hotel as well as the master plan were created by KFA architects.
CBRE professionals Jeff Pion and Matthew Hargrove represented Ivy Station and HBO in the transaction, respectively.
Groundbreaking for Ivy Station was held in September 2017 and construction completion is anticipated in mid-2020. HBO plans to take occupancy in early 2021.
Los Angeles-based Lowe, formerly known as Lowe Enterprises, is a leading national real estate investment, development and management firm. Over the past 47 years, it has developed, acquired or managed more than $28 billion of real estate assets nationwide as it pursued its mission to build value in real estate by creating innovative, lasting environments and meaningful experiences that connect people and place. Lowe currently has more than $2 billion in commercial real estate projects in the pipeline or under development. In addition to its Los Angeles headquarters, Lowe maintains regional offices in Southern California, Northern California, Denver, Seattle, and Washington, DC. For more information visit www.Lowe-RE.com.
About AECOM-Canyon Partners
AECOM-Canyon Partners is a joint venture between AECOM Capital, the investment arm of global infrastructure firm AECOM, and Canyon Partners, LLC, a global alternative asset management firm with over $24 billion in assets under management. AECOM-Canyon Partners was established to develop large-scale, institutional quality commercial real estate projects in top U.S. markets. In addition to capital, AECOM-Canyon Partners provides best-in-class design, construction management and engineering expertise as well as balance sheet support for its development partners. For more information, visit www.aecomcapital.com and www.canyonpartners.com.
Rockwood Capital, LLC (Rockwood) is a real estate investment management firm founded in 1995 that provides equity capital combined with real estate operating expertise for the repositioning, recapitalization, development and redevelopment of residential, office, research and development, retail and hotel space in key markets throughout the United States. Rockwood and its principals have invested on behalf of their clients approximately $28.9 billion of real estate through commingled funds and separate accounts. Rockwood is a 76-person organization with offices in New York, NY, San Francisco, CA, and Los Angeles, CA that manages a portfolio of approximately $3.6 billion of net equity value in approximately $7.1 billion of gross real estate value as of 9/30/2018. Rockwood’s investors include sovereign wealth funds, public and private pension funds, endowments, foundations, insurance companies, funds of funds, high net worth individuals and family offices.
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PUB: 04/03/2019 01:50 PM/DISC: 04/03/2019 01:50 PM