ICG purchased the 50-year-old, 14,200-sf building at Sunset Boulevard and Genesee Avenue in order to accommodate current and expected growth, says Cushman & Wakefield's Dwight Hotchkiss. He and Ted Simpson, both of C&W's Downtown Los Angeles office, represented the union, whose members are directors of photography, camera operators, assistants, still photographers, visual effects, animation and video specialists working in both the television and movie industries.

According to Hotchkiss, the acquisition allows ICG to maintain its presence in Hollywood, where its roots stretch back to the 1920s. ICG will renovate the entire building, which previously served as the broadcast home of KZLA-FM Radio. Following the completion of renovations later this year, the union will relocate from its current headquarters located across the street at 7715 Sunset Blvd.

The seller of the building, Emmis Radio Corp., is a unit of Indianapolis-based Emmis Communications, a diversified communications company, which owns KZLA-FM and KPWR-FM in Los Angeles. Emmis was represented by Rosey Miller of the West Los Angeles office of Julien J. Studley Inc.