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| Hercules Campus West, Silicon Beach Area, Playa Vista, CA |
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| JoAnn and Wayne Ratkovich (Photo by Gettyimages) |
LOS ANGELES, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hercules Campus West, a historically
significant four-building creative campus, leased to a multinational technology
company, in Playa Vista, California, a master-planned community in Los Angeles’
“Silicon Beach.”
HFF marketed the property
on behalf of the sellers, The Ratkovich Company and Penwood Real Estate
Investment Management, LLC, and procured the buyer, a diversified Japanese
corporate investor.
Conceived during a
prolific period of discovery and innovation under Howard Hughes, the buildings include the soaring, voluminous
hangars in which Howard Hughes built the
Hercules H-4 plane, also known as the “Spruce Goose.”
Inside the envelope of
these beautiful buildings, the tenant plans to build new state-of-the-art
structures.
Under Hughes, the hangars
were home to amazing innovations in the fields of aircraft, communications,
defense and satellite technology. The
next era of innovation will continue at Hercules Campus as it transitions from
aerospace to cyberspace.
Wayne Ratkovich
was the visionary behind the 2010 acquisition and restoration of the 28-acre
campus containing 11 buildings formerly occupied by Hughes Corporation. With an appreciation for both the history and
inherent beauty in these dilapidated structures, Wayne and his capable team
sought to transform these buildings into modern, cutting edge creative space.
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| John Crump |
The HFF investment sales
team representing the seller was led by John
Crump, Andrew Harper, Michael Leggett, Doug Bond and Ryan Gallagher.
The buyer was represented
by EGW Asset Management Inc. (EastGate | EGW), the global real estate
representative to the buyer for all markets outside Japan.
Per Reid Mackay of EGW, “The buyer focuses on long-term net leased
assets in major global markets. Hercules
Campus has a superb and iconic profile and having an investment grade credit
tenant was highly appealing.”
Founded in 1977 by current
President/CEO Wayne Ratkovich, The Ratkovich Company’s (TRC) mission is to
profitably produce developments that improve the quality of urban life. TRC has developed properties valued at more
than $1.6 billion over the course of its history. The Ratkovich Company is
jointly owned by Wayne and Jo Ann
Ratkovich and Steven C. Markoff.
Penwood Real Estate Investment Management
(PREIM) is a principal-owned firm dedicated to managing value-added real estate
investments for the institutional marketplace.
PREIM focuses on taking quantifiable incremental risk to provide above
market returns and executes value-added strategies in supply-restrained markets
to achieve premium investment results.
For a complete copy of the company’s news release,
please contact:
Kristen Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax
617.338.2150 | www.hfflp.com
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