Concorde/New Horizons Corp. will move to the mid-Wilshire district, taking space in a 23-story building that will be renamed the Concorde Entertainment Center.
The company will occupy space in the 250,000-square-foot building, located at 5455 Wilshire Blvd., according to real estate brokerage Grubb & Ellis Co.
A group of investors led by Joe Bobker recently purchased the building for $7.5 million. Bobker is an architect from Australia and the publisher of Los Angeles Jewish News.
The new owners plan to renovate the building, which will be leased by a team led by Grubb & Ellis’ Rosey Miller. They also bought a five-story office building at 6006 Wilshire Blvd. for $2.4 million from Liberty Life Insurance Co.
Meanwhile, producer Elliot Kastner says that due diligence is proceeding in his proposed deal to buy Concorde-New Horizons. That deal would give him the New Horizons label while Roger Corman retains the Concorde banner. A closing on the proposed $100 million deal, should it go through, is expected in mid-June.
Corman could not be reached.