CIM Group Plans More Offices in Hollywood

The L.A.-based developer bought Hollywood Cemex plant in 2022

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CIM Group, one of the most active developers in Los Angeles, has added yet another project to its pipeline.

The firm filed plans with the city to redevelop a portion of the Cemex Hollywood Concrete Plant near the intersection of Santa Monica Boulevard and La Brea Avenue, on the border with the city of West Hollywood. 

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Designed by Retail Design Collaborative, the proposal for the eastern part of the property calls for a seven-story mixed-use building with 78,000 square feet of office and commercial space on the top three floors and ground level, along with two subterranean levels and three above-grade levels for parking. The western half of the property will be a separate project in West Hollywood.

Urbanize first reported on the proposed plan at 1011 North Sycamore Avenue. Records show CIM Group bought the 1.6-acre property for $17.3 million in June 2022.

“La Brea Avenue is a prominent commercial corridor that is a hub for entertainment businesses along with a thriving mix of retail, restaurant and cultural venues,” said CIM co-founder Shaul Kuba in a statement when the firm acquired the property.

CIM Group is particularly active in Hollywood as well as the West Adams neighborhood, where it’s advancing a larger plan to reshape the community, but the firm also has deals around the region. Its growing list of projects in the works includes a five-story building with 114 apartments near Western Avenue and West Jefferson Boulevard; a 146-unit project on Hollywood Boulevard; and a 36-unit project in Echo Park. CIM is also looking for a buyer for The Lot on Formosa, a soundstage and office complex with 540,000 square feet that’s leased to HBO and Showtime.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.