An office building located at 743 Seward Street in Los Angeles has sold to Brian Ballard of Ballard Partners — a bipartisan lobbying and PR firm — for $10,950,000. Kidder Mathews Executive Vice President and Managing Director John Anthony, SIOR, Senior Vice President Christopher Steck, CCIM, and Senior Vice President Christopher Giordano represented Ballard. The seller was Plus Development Group.
The 11,269-square-foot building is situated in the media district of Hollywood, one block from Melrose Avenue and walking distance to many popular shopping and dining destinations. Constructed by Plus Design Group in 2021, the three-story building features an open design with floor-to-ceiling steel frame windows, a nearly 600-square-foot private terrace, and a historic oak tree in the front of the property.
Given its unique value, the building sold for $971.60 per-square-foot — notably high in comparison to recent sales in the submarket. Over the past 12 months, office properties in Hollywood fetched an average of $604 per-square-foot, according to CoStar.
Founded in Tallahassee, Florida, Ballard Partners has expanded over the past two decades to add offices in Washington DC, Boston, Istanbul, Tel Aviv, and Los Angeles. This sale marks its first office on the West Coast.
“The building offers uncompromised quality and is well positioned to serve Ballard’s needs as the firm moves into a new market and continues to grow,” said Anthony.
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with over 900 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $12 billion in transactions, manages 53 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.