JLL announced today that it has represented UNFOLD in the $11 million acquisition of a 13,110-square-foot ultra-creative office building located at 11811 Teale Street in Culver City from Therapy Studios. UNFOLD also owns an adjacent building at 11801 Teale Street. The addition of this new building will allow them to create a campus environment for its team.
UNFOLD is an award winning digital creative agency for top brands and the largest entertainment companies in the world. Since its founding in 2012, the agency has grown to over 150 people with full-service capabilities in media, digital advertising, social media, website development and production services.
11811 Teale Street is a unique semi-circular Quonset hut style creative office building featuring polished concrete floors, high/open ceilings and state-of-the-art recording studios. The building previously served as a manufacturing support facility for the Hughes Aircraft Company before being converted and renovated in 2018.
“This expansion is the latest chapter in UNFOLD’s continued growth and evolution,” said Daniel Weisinger, Co-President and Co-Cofounder of UNFOLD. “In recent years, we’ve grown our team, expanded our capabilities, and pursued numerous strategic acquisitions — all to better serve our clients and push creative boundaries. Adding this extraordinary space next to our current home creates a true campus environment, giving our people the collaboration, energy, and inspiration to fuel the next stage of our journey.”
JLL Senior Vice President Ben Silver represented UNFOLD in the acquisition. The seller was represented by Travis Landrum and Trevor Beldon of Industry Partners.
“UNFOLD has been growing exponentially and we’ve been searching for an opportunity to either relocate their business to a new headquarters building or find a building nearby to expand without having to move,” said Silver. “After an exhaustive search, the company purchased the adjacent building to their current facility in an off-market deal because it created a mini-campus for its employees, providing for growth, collaboration and culture building.”
Silver went on to say “We continue to see demand for high quality and unique office space in well located areas. Office is not dead, it’s just evolving. We’re also seeing a growing owner-user market willing to make significant investments to secure their business space needs long term and see the value in owning great real estate.
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