07.06.2017

Culver City development to become part of new HBO HQ: report

The Real Deal; July, 05, 2017

HBO will absorb a Culver City mixed-use building being developed by Lincoln Property Company as its new Los Angeles headquarters, according to a Los Angeles Times report and an analysis of property records by The Real Deal. The property will replace the former Surfas Culinary District cooking supplies facility at 8777 Washington, at the intersection of Washington Blvd. and National Boulevard, the report said. Surfas sold its property for $16 million in 2015 to developer VCN, headed by Craig Knight. But records show that VCN resold the property for $25 million late last year to a partnership headed by New York-based Clarion Partners and Lincoln, the latter of which is heading up development. Local developer Guild GC is also involved in the project, according to state business filings. A spokesperson for HBO declined to comment. The four-story complex will include 128,000 square feet of office space and 4,500 square feet of ground-level retail. HBO will be the only office tenant, according to a project spokesperson. Surfas told the Times that, while it is closing at the location July 15, it is currently on the hunt for a new headquarters. HBO’s current lease, at the sprawling Colorado Center office complex in Santa Monica, spans 129,000 square feet and expires in 2019. Last year, New York-based Boston Properties agreed to buy the Blackstone Group’s 50 percent stake in the six-building complex for more than $500 million.