Robert Herscu sells WeHo office building for $31M

Robert Herscu’s HQ Development handed off the former West Hollywood Planned Parenthood building to a mysterious new owner after just two years, The Real Deal has learned.

Triangle Ventures, a shell company tied to Margaret “Megan” Elizabeth Ellison, a Hollywood producer and daughter of billionaire Larry Ellison, paid $31 million for the 32,412-square-foot four-story office building at 825 North San Vicente Boulevard, according to Los Angeles County property records.

Herscu, who built a vending machine empire before switching to redeveloping unusual real estate into creative office buildings, bought the empty West Hollywood property in 2023 for $19 million, according to property records.

The former landlord, Hilldale Investment Group, spent about $500,000 in 2015 to reconfigure the layout of the first floor and install an alarm system for Planned Parenthood, a medical tenant with high security needs, building records show. Planned Parenthood decamped for 869 Westbourne Drive at the corner of Santa Monica Boulevard in 2020, and 825 North San Vicente Boulevard remained vacant.

That hasn’t changed since Herscu picked it up. The Australian businessman is known for revamping unique properties with a single future tenant in mind. But by all appearances, nothing has changed at the gray cement West Hollywood building, although Herscu applied to remodel the building interior and add a new facade, according to West Hollywood building records.

A spokesperson for HQ Development, the construction arm of Herscu’s real estate business, did not respond to requests for comment. Ellison could not be reached for comment.