LOS ANGELES, CA, April 3, 2019 – Cushman & Wakefield announced today that TubeScience, a data-driven video startup headquartered in Downtown Los Angeles, has leased 103,796 square feet (sf) at 655 S. Santa Fe Ave. in the Arts District to house the company’s production and development teams.
Brokerage professionals Brandon Gill, Brandon Burns, and Jae Yoo from Cushman & Wakefield represented the landlord, the Park family of Everest Bag, in the transaction. Ian Ameche with Lee & Associates represented the tenant.
655 S. Santa Fe is a freestanding flex facility on a 2.3-acre lot in the heart of the Arts District. Originally a build-to-suit warehouse space for an apparel company, the two-story property is currently occupied by Everest Bag and will be converted to creative office and production space for TubeScience with minimal modifications to the original building. It features a private lobby, high ceilings, new roof, skylights, abundant on-site parking, and high-speed internet via fiber network. Everest Bag, purveyor of bags since 1982, will be expanding into a larger facility in Vernon.
“The landlord’s in-depth knowledge of the transforming real estate market and the tenant’s commitment to creatively utilizing the entire building were factors in finalizing the deal,” said Mr. Yoo, Executive Director at Cushman & Wakefield. “Although there was complexity in leasing an industrial flex property for an entirely different use, this was a great example of how we are repurposing existing spaces to meet the evolving needs of today’s creative tenants.”
TubeScience is an ideal addition to the burgeoning area, with neighbors such as Warner Music Group, LYFT, Spotify, USC, Lucky Brand Jeans, 3BLACKDOT, Honey, and WeWork. The lease was one of the largest transactions in the Arts District so far this year, according to Cushman & Wakefield research.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.