Ocean West Capital Partners Acquires Historic Hollywood, California Skyscraper
According to company officials, “purchased in an off-market transaction, the project, originally built in 1923, is well known as the first high-rise office building in Hollywood with prior tenants including classic entertainers such as Charlie Chaplin and Will Rogers.”
"The Taft Building is an iconic office building with a natural authenticity including exposed red brick, operable windows, open ceilings, and polished concrete floors, all features that are unique in the Hollywood office market and attractive to today's progressive tenants," said Ryan Tucker, Director at Ocean West Capital Partners.
"We have had a very successful track record developing creative office space throughout Southern California, and we look forward to transforming the Taft Building into the top boutique, creative office building for technology, media and entertainment companies looking to locate or expand in Hollywood,” he added.
“With the transaction now complete, Ocean West plans to further enhance the property's unique historic features to better cater the building to creative and entertainment tenants within the Hollywood market,” the company said. “While the property recently underwent an extensive renovation, Ocean West has plans to elevate the building in the market by completing capital upgrades to the lobby and common areas, converting the ground floor basement space into an entertainment focused use to fit with the historic character of the building, and providing a high touch level of service to its entertainment industry focused clientele.”
The building features easy access from the nearby 101 Freeway and is located on top of the Hollywood/Vine Metro Station.
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