bLAckwelder Creative CampusCreative Office & Adaptive Reuse
3101-3143 S. La Cienega Blvd., Los Angeles, CA 90016
bLAckwelder is comprised of approximately 20 light industrial buildings originally constructed in the 1950’s. The project was repositioned as a collection of creative office buildings and designed to meet LEED criteria for certification. bLAckwelder is located at the intersection of La Cienega Blvd. and Fairfax Avenue and is proximate to the MTA’s La Cienega Metro station.
The project was structured as a joint venture between Genton Cockrum Partners and an institutional investor. The approximately $100 million project was acquired in 2007, entitled, constructed, managed and owned by Genton Cockrum Partners. Upon stabilization, Lincoln Property Group was retained as property manager. The project was sold in 2019 for $185 million representing one of the highest prices achieved for creative office in West Los Angeles (approximately $1,200 per building square foot).
The bLAckwelder investment thesis was to capitalize on current demand for creative office space from entertainment, media and technology firms in the burgeoning West Los Angeles-Culver City market. Many of the original, historic features of the light industrial buildings were retained for authenticity and combined with thoughtful and cost-effective capital / tenant improvements that considered light, air, outdoors, lifestyle, architecture, building materials, open space, and tenant identity. In addition, the creative office campus setting is unique and was a competitive advantage to attract new local and global tenants.