Barker Pacific Group

8075 West Third Street - Los Angeles, CA

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Scope

38,594 S.F. Office Building. Three levels of atrium office space over a two-level, 70-car parking structure, and ground-floor retail.

Challenge / Description

8075 West Third consists of three levels of atrium office space over a two-level parking structure. The atrium design allows for considerable natural light into the offices while simultaneously creating a peaceful working environment.

West Third Street Associates, LLC acquired the building in November 2006 at which time Barker Pacific Group, Inc. (BPG) took over its management.

  • 38,594-sq.-ft. office building located at the northeast corner of Crescent Heights and Third Street.
  • Restaurant space on street level leased to Olio Pizzeria.
  • Atrium design providing significant light to office spaces.
  • Entertainment-oriented tenancy.
  • Click here to view a map of the area »

Solution

Since acquisition by BPG, the building has undergone significant interior and exterior base building renovation, which was completed in early 2008.

At acquisition the building was less than 60% occupied. Within the first year Barker Pacific Group increased the occupancy by 10%, and subsequently brought occupancy from 70% to 85% in 2008. The remaining vacant space has been built out as spec, which has significantly increased tenant interest and should help the residual space to be leased.

Architectural Design for Renovation
Wolcott Architects, Culver City, California

Acquired

November 2006.

Completed

Renovations completed in 2008. Sold 2013.

Partners

Barker Pacific Group, Hamilton Capital Partners Fund II, and The Praedium Group