Blackstone taps JLL to head leasing at Howard Hughes Center

Los Angeles /
Oct.October 28, 2016 12:00 PM

Commercial brokerage JLL has been tapped by Blackstone to head up leasing at the Howard Hughes Center in Westchester, The Real Deal has learned.

JLL declined to comment on the deal, which is one of the largest leasing assignments of the year. A spokesperson for Blackstone did not immediately respond to a request for comment.

The 1.3 million-square-foot, five-building office complex, formerly owned by Hines, changed hands in June as part of the liquidation of Hines Real Estate Investment Trust. The company sold seven west coast properties, including Howard Hughes, for a total $1.6 billion.

For Blackstone, it was a homecoming of sorts. The company sold the complex to Hines for $506 million in 2013. The center comprises properties at 6080, 6060, 6701, 6100 and 6601 Center Drive, all constructed between 1987 and 2002.

A spokesperson for Hines declined to comment on the most recent occupancy rates at the building, which was 88 percent leased to 93 tenants when the company bought the complex in 2013. The 2013 tenant make-up, which included law firms, design agencies and production outfits, was notable in that no tenants leased more than 10 percent of the complex.

It was unclear whether or not Blackstone’s strategy would include courting larger tenants.


Related Articles

arrow_forward_ios
(Photo-illustration by Paul Dilakian)
Wall Street goes long on Hollywood studios
Wall Street goes long on Hollywood studios
G6 Hospitality CEO Rob Palleschi and Motel 6 San Jose South, one of the largest assets in the portfolio (G6)
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
Blackstone Group's Jon Gray and Hudson Pacific Properties's Victor Coleman (Getty, HPP)
HPP and Blackstone refinance Hollywood portfolio with $1B loan
HPP and Blackstone refinance Hollywood portfolio with $1B loan
9033 Wilshire Boulevard (Google Maps)
LaSalle sews up Beverly Hills medical office for $75M
LaSalle sews up Beverly Hills medical office for $75M
Hackman Capital Partners CEO Michael Hackman and Television City (Hackman Capital Partners and Flickr/vagueonthehow)
Hackman unveils massive plan to redevelop CBS Television City
Hackman unveils massive plan to redevelop CBS Television City
19191 South Vermont Avenue (Credit: CBRE)
Blackstone sells Torrance office complex for $56M
Blackstone sells Torrance office complex for $56M
900 Corporate Pointe
Blackstone provides $110M loan on Culver City office buy
Blackstone provides $110M loan on Culver City office buy
Bob Iger, Reed Hastings and (clockwise from top left) Sunset Las Palmas, Sunset Bronson and Sunset Gower Studios (Getty, Google Maps)
Here’s what Netflix, Disney and CBS pay at their Hollywood digs
Here’s what Netflix, Disney and CBS pay at their Hollywood digs
arrow_forward_ios

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

Loading...