SAN PEDRO, CA—Jupiter Holdings LLC has signed two new tenants to its newly renovated 293,540-square-foot creative office building, Topaz, on the waterfront in San Pedro, CA. Rockefeller Philanthropy Advisors and Blue Logistics signed leases for a combined 6,000 square feet.
Renting 1,000 square feet, Blue Logistics is relocating to the office tower from its former location near LAX. Rockefeller Philanthropy Advisors rented 5,000 square feet, and chose the building for its prime location. “The location of Topaz was a key factor, as it gives them direct oversight of the development of Alta-Sea, a 35-acre campus at the Port of Los Angeles dedicated to uniting global marine research, education, business, government philanthropy and community to collaborate and solve global challenges, united under a vision to shape the future through innovation,” David A. Smith, CBRE SVP, tells GlobeSt.com. Smith was one of the CBRE team members who represented the landlord. The company also has office locations in West Los Angeles.
Located at 222 West Sixth Street, the 11-story office tower was recently renovated to appeal to the growing number of creative companies coming to San Pedro. The renovation was completed in February of this year, the building offers ocean views from every floor as well as green amenities like car-charging stations and onsite bicycles for tenants. It is located a short 30-minute drive from Downtown Los Angeles. “Coming out of the recently completed capital improvement program, the quality of the property, its views, its finishes and materials, have far exceeded everyone’s expectations,” says Smith. “The reception from the marketplace has been tremendous and the interest continues to build. Most every tour has been met with astonishment at the quality of the building, the amazing views and the walkability of San Pedro.”
The building was 10% occupied prior to the renovations by two tenants. According to Smith, Jupiter Holdings expects to double that number by the end of the second quarter. “Thus far, interest has been from all market sectors and from small space users to fortune 500 companies. But with San Pedro’s robust arts community and quaint waterfront neighborhood, it is a perfect fit for the growing creative space market. Further, Topaz’s state-of-the-art fiber connectivity and abundant power, make it an ideal location for heavy load tech users,” he adds.
Dan Ristow of Victory Group represented Rockefeller Philanthropy Advisors, and Tim Sullivan of Lee & Associates represented Blue Logistics in the lease transactions. CBRE‘s Smith, Tim Vaughan and Mike Harry represented the landlord, Jupiter Holdings, in both transactions. The brokers were unable to comment before the publication of this story.