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
Link Logistics's Luke Petherbridge with 1719 Chapin Rd (Loopnet, Link Logistics, Getty)
Link Logistics buys 82K sf warehouse in Montebello for $29M
Link Logistics buys 82K sf warehouse in Montebello for $29M
Blackstone Group's Stephen A. Schwarzman (Getty, Mike Greene/CC BY-SA 2.0/via Wikimedia Commons)
PS Business Parks buy gives Blackstone portfolio in Signal Hill
PS Business Parks buy gives Blackstone portfolio in Signal Hill
From left: Blackstone’s  Kathleen McCarthy, Silver State Real Estate's Harshad Dharod, and Blackstone's Kenneth Caplan with  3610 Banbury Drive (Blackstone, Silver Star, The Foto Finisher)
Blackstone sells Riverside apartment complex for $102M
Blackstone sells Riverside apartment complex for $102M
Blackstone's Stephen Schwarzman with 6700 8th Street, 22642 Lambert Street and 23512 Commerce Center (Getty, PS Business Parks, LoopNet)
OC portfolio with 1.1M sf part of Blackstone acquisition
OC portfolio with 1.1M sf part of Blackstone acquisition
 Blackstone’s Kenneth Caplan and Kathleen McCarthy with  200 Old Ranch Road (Blackstone, Google Maps, iStock)
540K sf in LA figures into Blackstone’s $2.2B industrial refi
540K sf in LA figures into Blackstone’s $2.2B industrial refi
From left: Stephen Wilson, president and CEO, PS Business Parks; Stephen Schwarzman, CEO, Blackstone (Getty Images, PS Business Parks, iStock)
Blackstone pays $7.6B for SoCal storage outfit
Blackstone pays $7.6B for SoCal storage outfit
BlackStone's Stephen Schwarzman with 9028 Dice Road and 20210 S Normandie Avenue (Getty, LoopNet)
SpaceX on radar as Blackstone lands $1.8B CMBS loan
SpaceX on radar as Blackstone lands $1.8B CMBS loan
Blackstone Mortgage Trust's Katie Keenan, Rockpoint's Keith Gelb and Bill Walton; and several Torrance and properties (Google Maps, Blackstone, Rockpoint, iStock)
Rockpoint gets upsized loan on Torrance apartments
Rockpoint gets upsized loan on Torrance apartments
arrow_forward_ios

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

Loading...