LOS ANGELES-Real estate investment and services firm Kennedy Wilson partnered with Pacific Western Bank to acquire the $45-million, class-A creative-use office building and a seven-story parking structure on Lankershim Blvd. in North Hollywood. Kennedy Wilson provided $7.9 million in equity with Pacific Western Bank providing the additional $30 million in financing.

“Kennedy Wilson strongly believes in the various economic drivers inherent to the North Hollywood submarket, namely technology, entertainment and media-related industries,” Rob Hannan, managing director of Kennedy Wilson's commercial investment and sales group tells GlobeSt.com. “5161 Lankershim is one of the tri-cities' premier creative-use office buildings, and we believe it has intrinsic physical characteristics allowing it to strongly capitalize on this permanent tenant demand.”

The four-story building has 188,366 square feet of leasing space with open floor plans, community enhancing-features, like outdoor balconies and courtyards, and exposed ceilings and duct work. The more appealing feature, however, may be the 46,000 square feet of flexible floor plates that can be adjusted for the various sizing needs of potential tenants, large, small and mid-sized. These qualities provide creative spacing opportunities that Kennedy Wilson believes will attract tenants in the North Hollywood submarket. “Tenants from the aforementioned industries typically crave open floor plans that inspire collaboration,” says Hannan. The firm was also attracted to the parking structure's notable 4/1000 parking ratio.