LOS ANGELES - CIM Group announced today that it has fully leased its approximately 82,000-square-foot, six-story Class A office building at 7083 Hollywood Boulevard, with the expansion of its lease agreement with Live Nation, a global leader in live entertainment events and promotions. Live Nation took occupancy in February 2012 and has expanded for a total of two floors. It joins WeWork, an innovative shared-office and networking community for entrepreneurs, start-up companies and small businesses, which leased two and a half floors in November 2011 and opened May 1, 2012. Launched in 2010, WeWork, currently has six locations in New York, one in San Francisco and selected 7083 Hollywood Boulevard for its first Southern California location.
Since acquiring 7083 Hollywood Boulevard in May 2005, CIM has substantially renovated the building, and also just began a comprehensive remodel of the lobby, which is expected to be completed in September. These improvements have helped CIM attract a diverse array of leading, innovative and creative office tenants to this building in the center of Hollywood.
CIM is an investor in communities throughout North America and the largest commercial real estate owner in Hollywood. In 1998, CIM identified Hollywood as an emerging urban district that meets the firm’s strategic investment guidelines and is headquartered there. Since then, it has acquired and developed a portfolio of properties that include office, retail, hotel and multi-family residential properties.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com