The property asset involved in this transaction is a mixed-use space located at 8497 West Sunset Boulevard in West Hollywood, accounting for 10,000 square feet. This property has been signed over to its first office tenant under a 10-year lease agreement involving a multimillion-dollar deal. The overall project, dubbed “The Now,” includes a total of 30,000 square feet and has reached full occupancy, with another tenant, Round One, leasing 19,000 square feet for a food hall concept amid a 19 percent office vacancy rate in the area.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Multimillion-dollar
• Lease Term: 10-year
• Address: 8497 West Sunset Boulevard
• Market: West Hollywood
• Landlord: Jeff Appel - United El Segundo
• Tenant: David Gebbia & Richie Gebbia - Siebert Financial; Gebbia Media
• Brokers: Arman Mahmoodi - BeachRock Group

This transaction marks a significant relocation for the tenant, Siebert Financial and its subsidiary, Gebbia Media, as they moved from Beverly Hills to this new office. The leasing process was managed by Arman Mahmoodi of BeachRock Group, representing the landlord in this deal, highlighting the collaborative efforts in securing full occupancy in the newly developed space.