(Los Angeles, Calif.; Oct 27, 2026) – The investment firm run by a Quixote Studios co-founder bought a Culver City flex property for $11 million.
Epicenter Landcorp acquired 5880 Adams Blvd. from Australian investor Robert Herscu, Epicenter Managing Partner Mikel Elliott told L.A. Business First.
The property traded in 2021 for $30 million. Herscu acquired it in August from Deutsche Bank as part of a portfolio, attributing $9 million of that price to the Adams Boulevard property, according to Elliott.
The 58,000-square-foot property includes a 25,000-square-foot industrial-flex building and a parking lot. Epicenter plans to “clean up” the property, Elliott said, by upgrading the electrical infrastructure, interiors, landscaping and lighting.
The ideal tenant for the building is a light manufacturing industrial user. Elliott said he’s open to an aerospace company as well.
“Anybody who has a lot of equipment, a lot of vehicles, is perfect for it,” he said.
Just perhaps not a studio operator.
“It’s not really fit for a studio,” Elliott said. “Unless it’s AI streaming or something like that, which doesn’t need a big studio space.”
Epicenter is the real estate company that supported Los Angeles’ Quixote Studios, which Elliott also co-founded. He sold the soundstage and equipment company to Hudson Pacific Properties for $360 million in 2022. Epicenter retained ownership of Quixote’s properties, Elliott said, while Hudson Pacific leased the sites for Quixote’s use.
Elliott said he plans to treat 5880 Adams like a Quixote property.
“At Epicenter, just like what we did with Quixote, we’re going to get involved with these properties we buy,” he said. “We’re going to partner with the tenant. We’re going to be in there with them to make sure they freaking succeed.”
Elliott said he’s hoping to attract an electric vehicle operator like Waymo or Uber that wants to lease the property’s parking lot for its fleet. Epicenter already leases lots to Uber for its electric vehicles and Los Angeles Unified School District for its electric buses.
Rents at the property are around $2.50 to $3 per square foot, Elliott said. Scott Rigsby at Industry Partners is handling leasing.
Herscu entitled the property for another 40,000 square feet of creative office space, Elliott said. Epicenter could move forward with those plans or add housing down the line.
“It’s got good optionality,” Elliott said of the property. “You can either put an industrial user in there, or you can [turn it into] a creative office. The next-door neighbor is Altruist, and they just sold to Vanguard. There’s a cool little pocket right there, and all of Culver seems to be doing well.”
said he’s hoping to attract an electric vehicle operator like Waymo
or Uber that wants to lease the property’s parking lot for its fleet.
Last month, Hudson Pacific sold Quixote’s grip and lighting division — its production supplies, portable restrooms and communications equipment — in Los Angeles and New York to Cinelease. Elliott said he follows Quixote’s news and was struck by the decision to “water down” the company.
“Part of me was sad about it,” he said. “Quixote was a big part of the spirit of Hollywood. We would throw these big summer events with lines around the block, and we struck a chord with people on set. It saddens me a little bit to see it be watered down and shrunk.”
When asked about L.A.’s film industry, which has struggled to recover in the last few years, Elliott said, “I’m a pretty lucky guy, that I got out when I did.”
Still, he has faith that the industry will make a comeback in the coming years. Elliott said the federal film tax credits should make a positive impact on the U.S. film industry, as will AI studios that will cut excess time and costs in production.
“It’s just too critical to L.A.,” he said. “Hollywood is a global export business for us, and it’s going to correct. Quixote left a big void, because we had a good reach and strong loyalty. There’s definitely an opportunity for another company to come in, but I think it’s part of an overall industry correction here.”
