Clayco, Participant Lease 40K SF in Culver City
The Crescent Capital property is fully leased now
By Greg Cornfield October 18, 2021 11:46 am
reprints
An office campus called The Collection @ National in the Hayden Tract district of Los Angeles’ Culver City has attracted two new tenants, bringing its occupancy to 100 percent.
Participant, a media firm focused on social action, and Clayco, a Chicago-based construction and architectural firm, combine for 40,000 square feet of office space at Crescent Capital’s campus. Participant committed to 26,000 square feet for seven years. Clayco signed a five-year lease for 14,000 square feet.
CBRE (CBRE) announced the leases for the small three-building campus at 8590 and 8690 National Boulevard and 3520 Wesley Street. It’s located in the Hayden Tract district along with other major office developments, and it’s adjacent to prominent campuses like Ivy Station, which is leased to HBO.
L.A.-area office leasing remains most active in top submarkets like Culver City and Burbank, according to CBRE. After the third quarter, asking rents for Class A space in Culver City averaged $5.29 per square foot per month, which is much higher than the average for Greater L.A.
CBRE’s Tom Sheets and Quint Carroll represented the landlord. CBRE’s John Zanetos and Kelli Snyder represented Clayco. CBRE’s Jake Bobek, Scott Steuber and Jeff Vertun represented Participant.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
