From Amazon To Erewhon: Hackman Capital's Culver Steps Fully Leased
Hackman Capital Partners' 112K SF office and retail development The Culver Steps in Culver City is 100% leased, Hackman announced Wednesday.
The luxury grocer Erewhon, the property's largest retail tenant, opened its doors the same day, Commercial Observer reported.
Erewhon had to make a few extensive improvements — adding elevators and making space for truck docking to its 13K SF footprint — because the storefronts it took up were not initially designed for a grocery tenant, according to LA Business First.
The Culver Steps' 80K SF of office space is leased to Amazon Studios, which moved in in 2019. Hackman also owns the adjacent Culver Studios, where Amazon's film production division resides. The remaining space, 42K SF of retail, is leased to tenants including Sephora, Mendocino Farms and Salt & Straw.
Kennedy Wilson Brokerage Executive Vice President and Director of Retail Lee Shapiro and Senior Vice President Christine Deschaine represented the landlord, a Hackman affiliate, in the transactions.
Shapiro said his team received more than 150 offers for the retail and restaurant space when it was leasing up.
"Operators want very much to be here,” Shapiro said in a statement.
The Culver Steps saw a 60% increase in foot traffic in 2022 compared to 2021, Hackman said, citing Placer.ai data.
Downtown Culver City has become quite the hub for media and tech companies, with Apple, HBO and Amazon all occupying significant space in this corner of the city.
