Los Angeles – May 26, 2016 – CBRE Group, Inc. announced the completion of a 19,000 square foot lease for Co-Opportunity Natural Foods, a Santa Monica-based boutique grocery store, at the new luxury mixed-use development Access Culver City in Culver City, California.
Co-Opportunity Natural Foods, also known as “The Co-op,” has been selling natural, organic and local foods to the Santa Monica area since 1974. The Co-op currently has one store on Broadway in Santa Monica. The new location is scheduled to open in early 2017.
CBRE’s Timothy Bower and Zachary Card represented Access Culver City’s developer, Greystar Real Estate Partners LLC, the Charleston, South Carolina-headquartered multifamily property management, investment and development Corporation. The company owns and manages properties across the country, from New York City to San Francisco, as well as Europe and Latin America. Lee Shapiro at Kennedy Wilson represented the tenant.
“The Co-op has been tremendously successful at its Santa Monica location,” said Bower. “We are excited they chose Access Culver City as their second location. We are confident that this site will draw and create the same loyal customer base and will be a tremendous asset not only to the residents at Access Apartments, but the surrounding office properties and Culver City community as well.”
Access Culver City is a transit-oriented urban mixed-use project featuring 31,240 square feet of retail and restaurant space below 115 luxury apartments, located at 8770 Washington Boulevard and opposite the Culver City stop on Metro’s Exposition Light Rail line. The development, to be completed next month, features studios, one and two-bedroom units, and three-bedroom townhouses. The apartments will include stainless steel appliances, quartz countertops in kitchen and baths, washers and dryers. Some units will also have large private patios or balconies and walk-in closets. Common areas will feature a pool and Jacuzzi as well as outdoor seating areas and open community spaces.
“We are thrilled to have Co-opportunity Natural Foods as a part of Access Culver City,” said Perry Pound, Managing Director at Greystar. “The mission of this development was always to create a true mixed-use and transit-oriented community. Our residents will be able to enjoy the access and convenience of a premier organic specialty grocer, as well as access to both Downtown Los Angeles and the beach with the completion of the Expo Line. We envision Co-opportunity Foods having tremendous success in this location and providing a great benefit to the surrounding community.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing approximately 410,000 units in over 130 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with over $12 billion in gross assets under management including $3.9 billion of developments underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com.
