Innovative company’s vision draws coveted tenant to prime location
Los Angeles, CA – (RealEstateRama) — The Souferian Group, a Los Angeles-based real estate development, investment and advisory firm founded and led by Behzad Souferian and focused on developing distinctively branded and designed lifestyle-driven properties, has announced the closing of a full-floor lease for Soothe, an app-based on-demand massage technology company. The company’s expanded operations will occupy the entire sixth floor of 1800 North Highland Ave., a seven-story, Class A office structure located at the gateway to Hollywood’s world-renowned entertainment district.
The Souferian Group is in the process of repositioning the asset into an exclusive hospitality and lifestyle-based office environment, flagged by an innovative brand concept which is scheduled to be unveiled later this year.
“Creative office spaces are now the norm and yesterday’s promise. We are cultivating the next chapter of office environments with unprecedented offerings that translate into value,” said Souferian. “Soothe is an ideal fit for 1800 North Highland, as this pioneering firm will be among the first to experience the next generation of office space.”
The Souferian Group acquired the 88,000-square-foot property, adjacent to Hollywood Boulevard and the Dolby Theatre, in September 2015. With Soothe’s newly-signed, five-year lease, the building is now 100-percent leased. Additional tenants at 1800 North Highland include music conglomerate Live Nation and Sean Combs’ music cable network Revolt TV, among others. The entire Hollywood office market has once again become a highly sought-after destination for tenants and has drawn big names, most notably Netflix and Viacom. The media-streaming giant, Netflix, recently signed Hollywood’s largest lease ever.
“At Soothe, attracting and retaining the best talent has been key to becoming the fastest growing massage company in the world,” said Merlin Kauffman, CEO of Soothe. “The Souferian Group’s unique vision and offerings for 1800 North Highland are closely aligned to Soothe’s attention to ‘the experience’ for both our customers and employees. It is the ideal space for our employees to thrive in, and we are excited to witness the building’s transformation into something no one has seen before.”
Launched in 2013, Soothe is a Los Angeles-based on-demand massage service that delivers spa-quality massages directly to customers’ home, office or hotel. Soothe massages are available to order on-demand via the iOS and Android mobile apps as well as at www.soothe.com.
Michael Arnold of Newmark Grubb Knight Frank represented The Souferian Group in the transaction. Soothe was represented by Scott Steuber and Jeff Vertun of Avison Young.
About The Souferian Group
Founded by Behzad Souferian, The Souferian Group is a best-in-class, fully-integrated real estate development, investment and advisory company. The company is committed to creating value through a strategic plan dedicated to developing distinctive branded and designed lifestyle properties. The Souferian Group’s successful track record spans acquisitions and developments in residential, retail, office and mixed-use properties. The privately held company acquires and develops projects through its own direct investments or joint venture partnerships. For more information on The Souferian Group, please visit www.TheSouferianGroup.com