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Lincoln Property plans $225M speculative office project in Culver City, Calif.

Lincoln Property Co. is planning to build a $225 million speculative office development in Culver City, the Los Angeles Times reported, citing Rob Kane, executive vice president of the developer's LPC West division.

The developer and its financial partners acquired the site for the six-story, 300,000-square-foot Entrada project from Woodbine Development Corp.-managed Woodbine Legacy Investments, the owner of the DoubleTree by Hilton Los Angeles — Westside hotel, which currently uses the site as a parking lot, according to the Dec. 13 report.

The development, which will also feature shops, restaurants and a roof deck, will be designed to appeal to technology, entertainment and media companies.

Woodbine, which is a partner in the office project along with Goldman Sachs Group Inc., is planning to carry out a $35 million refurbishment of the hotel that is expected to be offered as an amenity to Entrada tenants, the publication added.