LOS ANGELES-Several new tenants have leased a combined 75,000 sf of showroom space at the Pacific Design Center in West Hollywood, breathing more new life into a fabled project that was facing foreclosure just a year ago.

Nearly a dozen new tenants have moved into the 16-acre Westside development. Three others–high-end furnishing retailer Beacon Hill, outdoor and garden furniture boutique Janus et Cie and kitchen-and-bath designers Euroconcepts–have expanded their existing space over the past few months.

In a complicated sale that involved a deed-in-lieu of foreclosure, an East Coast group that includes Charles S. Cohen of New York and the Cheslock Bakker Opportunity Fund acquired the 1.2-million-sf furniture and design showroom project last year in a deal valued at about $157 million. The group also pledged to spend tens of millions to renovate the development, nicknamed “the blue whale” for the mammoth blue building that anchors the complex.

About $40 million alone is being spent to convert some of the showroom space into 212,000 sf of class A creative office space targeted at the entertainment and Internet industries. Elevators are being added and the lobby redesigned.

Cohen is president and CEO of Cohen Bros. Realty. He also owns the D&D (Decoration and Design) Building in Manhattan, which gives the investor control of each coast’s largest design showroom projects.

PDC, design, Cohen, Cheslock, lease, retail, West Hollywood, Myers

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