CIM Group Announces Sale of Hollywood Office Tower

LOS ANGELES--()--CIM Group announced today that it has concluded the sale of 1800 N. Highland, a seven-story, 87,000-square-foot office building located at a high-profile, gateway location to Hollywood just north of Hollywood Boulevard on Highland Avenue.

CIM acquired the mid-century building in 2004 and undertook a complete renovation and repositioning program, bringing a Class A office building to the market at a time when there was limited supply of quality office properties. CIM replaced the façade with a modern glass and steel structure providing an abundance of natural light. CIM also demolished the interior walls to create open floor plans that take advantage of the high ceilings, offering flexible design configurations for creative offices, upgraded the common areas, and introduced a new contemporary lobby featuring rich stone and wood finishes. The building provides 160 parking spaces in a four-level subterranean parking structure.

1800 N. Highland is centrally located across Highland Avenue from Hollywood & Highland Center® and steps from Hollywood Boulevard, offering easy access to a variety of shopping, dining and entertainment options as well as the many new apartment and condominium residences that have been developed in this thriving, walkable urban district. It also is well-located near major transportation corridors including the 101 freeway and the region’s public transportation network with the nearby Hollywood & Highland Metro Red Line Subway Station.

CIM is an investor in communities throughout North America and has been a leading commercial real estate investor in Hollywood since 1998 when it identified Hollywood as a Qualified Community, possessing the attributes that fit CIM’s investment model. Since then, CIM has acquired and developed a portfolio of properties in Hollywood that includes office, retail, hotel, entertainment, and multifamily residential properties.

About CIM Group

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, Maryland, and Dallas. For more information, please visit www.cimgroup.com

Contacts

Diehl Communications
Karen Diehl, (310) 741-9097

Release Summary

CIM Group sells Hollywood office tower at 1800 N. Highland, which it renovated and repositioned to bring needed Class A office to the area.

Contacts

Diehl Communications
Karen Diehl, (310) 741-9097