Andreessen Horowitz signs an office lease in the former Hart Hotel at 1305 2nd Street in downtown Santa Monica

1305 2nd Street after the completion of a comprehensive building restoration

Venture capital firm leases redeveloped Santa Monica building by King’s Arch and Wilshire Skyline

Undertaking such a complex building rehabilitation was a labor of love. Surprises were found at every turn. Some were setbacks while others confirmed that we were on the right track.

—Richard Shamooilian

SANTA MONICA, CALIFORNIA, USA, Aug. 1, 2022 /EINPresswire.com/ — Beverly Hills-based King’s Arch and Wilshire Skyline have reached an agreement with venture capital firm Andreessen Horowitz (known as ” a16z”) to occupy the entire building at 1305 2nd Street.

Located on the corner of 2nd and Arizona, just off the 3rd Street Promenade and overlooking the Pacific Ocean, this award-winning historic landmark was built in 1914 as one of the city’s first hotels. After years of painstaking and passionate restoration, the Hart Hotel has embarked on a new life as one of downtown Santa Monica’s premier office buildings. This nearly 30,000 square foot U-shaped structure was repositioned in 2021 and features ocean-view outdoor space on each floor, private rooftop terrace, glass penthouse , a prominent entrance courtyard, gated parking, and distinctive features including historic ghost signs.

The property has worked closely with local architects KFA to revive and enhance the buff-colored and gold-speckled brick edifice. The unique design components have all been meticulously restored to Department of the Interior historic preservation standards, while the structure and all systems have been brought up to Class A caliber. Courted by owners’ representatives from Groundsource and Madison Partners as well as representatives of Douglas Elliman tenants, this transaction further demonstrates the demand for quality office space in Silicon Beach.

According to King’s Arch Director Richard Shamooilian, “Undertaking such a complex building rehabilitation was a labor of love. Surprises were found at every turn. Some were setbacks while others confirmed that we were on the right track. Early on, we discovered a collection of century-old lamps behind a wall in the former speakeasy in the basement! Thrills like this and attracting bands like a16z make all the hard work worthwhile. We would like to thank the various stakeholders who contributed to its realization. Special thanks to the City of Santa Monica for their support and absolute professionalism.

About King’s Arch:

King’s Arch is a Beverly Hills family office with a focus on adaptive real estate focused on reuse. With a portfolio of office, retail and residential properties located primarily in Southern California, the company retains most core capabilities in-house. This vertically integrated approach to investment, development and operation enables the company to be particularly agile and efficient and to serve selected clients through its in-house expertise in leasing, property management and assets and construction supervision.

For more information visit: http://kingsarch.com/

About Wilshire Skyline:

Founded by Eugen and Raphy Nissel in 1973, Wilshire Skyline is an integrated asset management and development group based in Beverly Hills.
For more information visit: http://wilshireskyline.com

About Andreessen Horowitz (a16z):

Founded in Silicon Valley in 2009 by Marc Andreessen and Ben Horowitz, Andreessen Horowitz (known as “a16z”) is a venture capital firm that supports bold entrepreneurs in building the future through technology. We are stage agnostic: we invest in seed to venture into late-stage tech companies, across bio+health, consumer, crypto, enterprise, fintech, games and companies that look to American dynamism. a16z has $33.3 billion in assets under management across multiple funds.

For more information visit: https://a16z.com/

Media Contact
Name: Melissa Rojhani
Telephone: 310 659 7575
Email: [email protected]

Melissa Rojhani
King’s Arch, Inc.
+1 310-659-7575
[email protected]
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