At least one talent agency knows the Hollywood writers’ and actors’ strikes can’t last forever.
Verve Talent & Literary Agency is relocating its headquarter offices to a Lincoln Property Company (LPC)-owned campus in Hollywood, the landlord announced. At 53,000 square feet, LPC said it’s one of the largest office leases in Los Angeles so far this year.
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Verve expects to move into the Class A creative campus named BA/SE next month to become the anchor tenant. The company is currently at a Douglas Emmett property near L.A.’s Miracle Mile and Museum Row.
The 261,000-square-foot BA/SE campus at 6555 Barton Avenue and 959 Seward Street was completed in 2015, and LPC and Goldman Sachs (GS) bought it for $186 million in late 2020 from J.H. Snyder, Commercial Observer first reported at the time. Since then, the owner upgraded the property and added new amenities.
The property, across from the historic Sunset Las Palmas Studios, had fallen to just 50 percent leased at the time of purchase. LPC did not disclose the current occupancy level.
“Given its prime location in the heart of Hollywood and its creative campus environment, we saw this as an opportunistic investment with tremendous upside as the market recovers,” said Rob Kane, executive vice president of LPC’s Southern California operations. “We’ve since renovated the exterior of the property and added new features that enhance the campus vibe, including a variety of comfortable and convenient areas for tenants to meet clients, host events, and connect with colleagues. Verve’s decision to bring their headquarters to BA/SE represents significant forward momentum for the property as we aim to bring it back up to full occupancy.”
CBRE (CBRE)’s Jeff Pion represented Verve, and LPC’s Kent Handleman and Douglas Brown represented the landlord.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
