Vantage Property Investors is planning a 135,000-square-foot office building in West Los Angeles.
A filing with the city calls for the demolition of two existing office buildings totaling 52,500-square-foot at 2255 S. Sawtelle Boulevard, and construction of the new building along with parking. Vantage specializes in creative office developments — a good indication of what’s coming to the three-acre property.
Vantage bought the property from Oakwood Worldwide in July for $67.5 million. The site was marketed as the “Sawtelle Olympic” campus and a redevelopment opportunity. There’s also a parking structure on site.
Vantage was behind the Playa Jefferson creative office development in Playa Vista. The company bought the aging five-building campus in 2011 for $35 million and brought in Gensler to redesign it. Facebook signed a lease for 50,000 square feet there in early 2016. A few months later, Vantage sold it to Rockwood Capital for $165 million.
The neighborhood around the Sawtelle Olympic campus has seen some interesting activity this year. In July, Beverly Hills-based investor Alon Abady purchased a Class B office building for $15.3 million, likely with plans to redevelop it.
The same month, the University of Southern California announced that a cancer research center would move into an office development nearby at 12414 Exposition Boulevard.
Source: The Real Deal Los Angeles