Bolour Associates Inc. and joint venture partner Crescent Capital Partners acquired an industrial building at 8690 Hayden Place in Culver City for $5.5M.
The companies will invest in a multimillion-dollar renovation of the property, expanding the 12K SF building to 14K SF by adding mezzanine space.
Bolour has purchased a Culver City industrial warehouse with plans to renovate it and reposition it as creative office space.
The renovation will create a flex space designed for the area’s content, design and production-focused tenant base.
Scott Rigsby of Industry Partners represented the building’s undisclosed seller.
PEOPLE
CRE firm Greysteel acquired Nara Advisors, a commercial real estate advisory firm with headquarters in San Diego. The two companies will be integrated immediately, and Nara CEO and founder Jason Lee will join Greysteel in a senior leadership role.
The transaction brings advisers to Greysteel in key SoCal markets, including San Diego, Orange County, Long Beach and the Inland Empire, where Nara has offices. Nara specializes in the multifamily and retail sectors, including investment sales, 1031 exchanges, off-market transactions and development opportunities.
SALES
An unnamed owner-user bought a three-story, 24K SF office building at 16909 Parthenia St. in Northridge for $6.3M, or $260 per SF.
CBRE’s Mark Shaffer, Anthony DeLorenzo, Gerard Poutier and Dylan Rutigliano facilitated the sale and represented the seller, Woodland Group LLC.
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A private investor purchased a newly renovated, single-tenant, net-leased 24K SF Grocery Outlet in Blue Jay for $6M. Blue Jay, in San Bernardino County, is considered the gateway to the Lake Arrowhead resort area.
Hanley Investment Group Real Estate Advisors’ Bill Asher and Jeff Lefko represented the seller, an undisclosed private developer based in North San Diego County. Steven Gelber of Gelber Realty Corp. represented the buyer, an unnamed private investor from Los Angeles.
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An unnamed private family office purchased La Plaza La Jolla, a 29K SF multitenant retail property at 7863-7877 Girard Ave., for $10.2M. The property is in the heart of La Jolla Village and is fully leased to a mix of restaurant, boutique and experiential tenants. CBRE’s Michael Peterson, Reg Kobzi and Jimmy Slusher represented the seller, La Plaza Investment.
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Lincoln Property Co. and Artemis Real Estate Partners acquired 2164 N. Batavia St., a 250K SF, Class-A industrial facility. The sales price wasn’t disclosed.
Since 2010, the warehouse has been the headquarters for Paper Mart, a packaging supply company, which fully occupies the building. The seller and Paper Mart owner, Frick Family Properties, entered into a 12-month sale-leaseback upon closing. Under Lincoln and Artemis’ ownership, this will be the first time the property will become available for lease.
Christian Tober of Lincoln Property Co. led the acquisition for the partnership. Berkadia’s Louis Friedel and Keith Rosso sourced financing for the investment, and Newmark’s Jeff Read will oversee leasing.
CONSTRUCTION AND DEVELOPMENT
In spring 2026, hotelier Ian Schrager will debut the Public West Hollywood in the building on the Sunset Strip that formerly housed a Standard hotel. The 137-key hotel’s building will feature a design executed by Schrager and British architect John Pawson. The hotel will have a 16K SF open-air rooftop terrace.
