CIM Group Buys Former Hollywood Home of Woolworth’s

Westwood-based CIM Group has added to its portfolio of Hollywood properties with the $1-million purchase of a former Woolworth’s department store building built around 1908 in Hollywood.

CIM, which has purchased more than $40 million worth of Hollywood properties, plans to renovate the two-story, 13,000-square-foot store building into offices and retail shops, according to John Tronson, of Ramsey-Shilling Co., who represented both CIM and the seller of the building, the Arzoumanian Trust, along with Ramsey-Shilling’s Christopher V. Bonbright, Michael Malick and Steven Tronson. Tronson said CIM bought the building in partnership with Maryland-based Federal Realty Investment Trust, an investor group that has been CIM’s partner in a number of deals.

The Woolworth’s building, at 6410 Hollywood Blvd., was developed by the late Charles E. Toberman, a developer known for his role in creating many Hollywood landmarks. He and Sid Grauman built the Chinese, Egyptian and El Capitan theaters in Hollywood and several other buildings. The Woolworth’s building was vacated about a year ago, Tronson said.