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SANTA MONICA, CA-Hankey Investment Co. of Los Angeles bought a 16,000-sf office building at 1914-1916 Main St. that was one of the first conversions of industrial buildings to “creative” office space, according to broker Michael Preiss of the Klabin Co.

Preiss and Tibor Lody of Klabin represented Kama Development LLC, the seller, in the $5 million sale. Preiss says the property, which is a single-story building at the corner of Main Street and Pico Boulevard, was formerly known as the Fuel Building. It was featured in several architectural magazines for its innovative design when completed in 1997, and was quickly occupied by cutting edge companies, according to Preiss. It is in the center of the city’s redevelopment area.

Preiss assisted the original owners in converting the building to creative space in 1997, then leased and sold it for them. Preiss and Lody are now marketing 7,850 sf of the available space for lease by the new owners, who represented themselves in the purchase.

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