Tova Capital announced the $8.2 million purchase today.
The wave of big-name tech and media companies like Apple, Amazon and HBO that’s washed over Culver City has resulted in a need for even more creative space, especially for small and mid-sized companies in the same fields, Tova CEO Ron Harari said in a statement.
“We have been seeing strong demand emerge from tenants seeking creative space in west Culver City because of its ease of access and close proximity to the coveted Westside neighborhoods,” said Daniel Pickart of Industry Partners, who represented Tova in the sale.
The 12,600-square-foot building was built in 1989 for Allied Model Trains, a hobby shop for model train enthusiasts that had been in business in Culver City for over seven decades. The train store moved out of the building in 2007, and the structure most recently housed a Samy’s Camera shop.
Intended as a scaled-down replica of Downtown’s Union Station, the building at 4411 Sepulveda Boulevard was “regarded as the Holy Grail of train stores by model train hobbyists,” says Tova in a statement. It occupies a full city block in western Culver City and features curved arched windows, terra cotta tile work, and an 18-foot-tall bell tower.
Tova plans a thorough upgrade of the building’s interior, including installing new windows. The company will also add outdoor space—basically a requisite amenity for office space hoping to hook a tech or media tenant.