X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANTA MONICA, CA-A company controlled by Roger Corman, widely considered the king of B-movie producers, has paid $6 million for a recently converted property that once showed some of the filmmaker’s biggest hits—from the breasty “Candy Stripe Nurses” to the bloody “Carnivore” series and “Body Bags.”

The 17,000-sf complex stands at 1442 2nd Street, between Colorado Ave. and Broadway. It was an X-rated Pussycat Theater for 30 years before it was turned into a mixed-use restaurant and office building about 18 months ago.

The seller is a locally based private investment group, Calstar Arvada LLC. Calstar bought the property in the 1990s and, after finishing its conversion, landed the Buca de Beppo Italian restaurant as the ground-floor tenant and rented most of the office space to Internet venture-capital firm KORE.

Many film critics and legions of moviegoers say Corman is the undisputed king of low-budget flicks. He is credited with producing or directing hundreds of films over the past 50 years: Though few of them have been nominated for even the smallest of awards, most have been solid moneymakers at the box office.

An Insignia/ESG brokerage team of Christopher Houge and Evan Meyer represented the buyer in the transaction. Calstar Arvada was represented by Rick Buckley and Jake King, two other Insignia/ESG brokers.

Though none of the Insignia brokers would confirm Corman’s involvement in the purchase, others familiar with the deal tell GlobeSt.com the buyer is a limited liability company that Corman controls.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.