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AMDA Buys Hollywood Creative Office Space

LOS ANGELES—Hello and Co. sells a 19,750-square-foot creative office building to the performing arts college in an extremely competitive transaction, GlobeSt.com reports in this EXCLUSIVE story.

By Kelsi Maree Borland | Updated on September 04, 2014

LOS ANGELES—American Musical and Dramatic Academy, College of the Performing Arts has purchased a 19,750-square-foot creative office building in Hollywood from Hello and Co., GlobeSt.com reports exclusively.The transaction drew strong interest from potential buyers, generating eight offers from investors, developers and owners/occupiers, like AMDA.

“We had eight offers but AMDA and two others were the most compelling,” Martin McDermott, principal at Avison Young, tells GlobeSt.com. “The property sold at our expected sales target but due to the amount of offers generated, we protected the seller from purchase credits in escrow and were also able to deliver favorable terms to the seller.” McDermott represented the seller in the transaction while Avison Young principal Christopher Bonbright, principal John Tronson and senior associate David Landau represented the buyer in the transaction.

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