The property asset involved in this transaction is located at 959 Seward St, Los Angeles, CA, 90038, within the Los Angeles market. It encompasses approximately 30,000 square feet and is part of J.H. Snyder’s new 250,000 square foot Hollywood 959 development. The facility is designed to meet LEED standards and features 13-foot to 16.5-foot concrete lid ceilings, operable windows, floor-to-ceiling glass, and a furnished outdoor courtyard with free WiFi.

Summary of transaction details:

• Property Type: Lease
• Transaction Amount: Not specified
• Address: 959 Seward St, Los Angeles, CA, 90038
• Square Feet: 30,000
• Landlord: J.H. Snyder
• Landlord's Representative: Benjamin (Ben) Silver (CBRE), Ben Silver (JLL)
• Tenant: The Formosa Group
• Tenant's Representatives: Mark Robinson (Cushman & Wakefield), Arlene Sommer (Cushman & Wakefield)

This lease arrangement was finalized as The Formosa Group opted for a space larger than its current headquarters to accommodate sound design, sound and music editing, mixing, and ADR capabilities, in addition to administrative and support staff. The lease comes amidst a significant development in the Hollywood Media District, enhancing the media workspace landscape in Los Angeles.