Broadreach Capital is selling its 2.3-acre WeHo complex

Bids are expected to come in as high as $200M

TRD LOS ANGELES /
Aug.August 17, 2016 10:00 AM

The former headquarters of Playboy Entertainment on Sunset Boulevard is on the market and could draw bids as high as $200 million, according to REAlert.

The West Hollywood commercial complex, owned by Palo Alto-based Broadreach Capital, spans 178,000 square feet and contains four structures. It’s currently 87 percent occupied.

The 2.3-acre property, dubbed the Sunset, is anchored by a 10-story, 71,000-square-foot office building, REAlert reported. The three other buildings comprising the complex are low-rise and contain mostly retail space. Top retail tenants include Equinox Fitness, H&M and Olivers People.

Listing brokerage HFF is marketing it as as a value add opportunity, since a new owner could potentially boost profits by leasing the vacant space and raising below-market rents.

Broadreach acquired the complex, at 8560-8590 Sunset Boulevard, in 2006 for $105 million. Its previous owner was Apollo Real Estate.

Just next door, CIM Group is developing the $365 million Sunset La Cienega project, which will include the 296-room boutique James Hotel, operated by New York’s Denihan Hospitality Group. And a few blocks down, a massive Frank Gehry-designed mixed-use complex is freshly in the works after receiving final approval from the planning commission. [REAlert] — Cathaleen Chen


Related Articles

arrow_forward_ios
From left: The Century tower and a Sierra Tower

LA condo sales had been improving in Q1: report

LA condo sales had been improving in Q1: report
Chrissy Teigen and John Legend with the home (Credit: Charley Gallay/Getty Images)

John Legend and Chrissy Teigen buy WeHo spec home

John Legend and Chrissy Teigen buy WeHo spec home
From left: Michael Shabani, James Randall, and 8840 Beverly Boulevard (Credit: Getty Images)

Investor James Randall pays $36M for WeHo furniture showroom

Investor James Randall pays $36M for WeHo furniture showroom
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Faring makes $30M assemblage play on WeHo/LA border
The top sales of last week were all on the Westside

Here are the 5 priciest resi sales in LA County last week

Here are the 5 priciest resi sales in LA County last week
Barings Head of Alternative Investments Anthony Sciacca, and DWS Head of Americas Bob Kendall (Credit: Google Maps)

DWS Group pays $100M for WeHo resi complex

DWS Group pays $100M for WeHo resi complex
Richard Bloom and a rendering of Lowell Farms Cannabis Cafe (Credit: Lowell Farms, iStock)

Cannabis lounges bloom in WeHo, and not everyone is happy

Cannabis lounges bloom in WeHo, and not everyone is happy
Jason Illouian and the property (Credit: Faring Capital and Google Maps)

Faring advances plan for 271K sf cancer center where it had eyed boutique hotel

Faring advances plan for 271K sf cancer center where it had eyed boutique hotel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...