The West Coast arm of Lincoln Property Company has announced its acquisition of the Entrada site, a property on the Culver City-Playa Vista border which has been approved for the construction of more a large office building.
LPC West partnered with Goldman Sachs affiliate Broad Street Principal Investments to purchase the 3.7-acre lot at 6163 Centinela Avenue from Woodbine Development Corporation, owner of the abutting DoubleTree hotel. The project site is currently improved with surface parking for hotel guests.
The Entrada site, located just west of the 405 Freeway, has received sign-offs from Culver City for the development of an 11-story, 150-foot-tall building featuring approximately 280,000 square feet of offices above ground-floor retail space and structured parking for more than 1,000 vehicles.
“Entrada will be a world-class project with a highly-visible location between Culver City and Playa Vista - two of the region’s most important locations for entertainment, media, and technology,” said Rob Kane, Executive Vice President at LPC West in a press release. “This project will be a premier trophy asset with a cutting-edge design in an area that has seen much activity and innovation in recent years. We are thrilled to develop the region’s newest creative office project.”
Gensler is designing the mid-rise structure, which would offer flexible floor plans suited for media and technology companies. Each of the building's office suites will open onto a private balcony, and tenants will also have access to shared spaces including a 15,000-square-foot sky deck, a fitness center, and a conference room and other facilities in the neighboring hotel.
LPC West, which also developed the Runway complex in neighboring Playa Vista, expects to complete the $225-million development in 2021.
Construction will overlap with a separate project undertaken by Woodbine Development Corporation - a $35-million renovation of the DoubleTree that is set to begin work in early 2019. The overhaul will encompass all of the hotel's guest rooms, as well as its fitness center, restaurants, and exterior facade.
Plans for the Entrada date back more than a decade. The building was previously as a more traditional 13-story building with approximately 340,000 square feet of rentable space.
- The Entrada Archive (Urbanize LA)