Transactions - FEBRUARY 17, 2016

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Tishman Speyer acquires Hollywood office property

by Andrea Waitrovich

Tishman Speyer has acquired 6430 Sunset Blvd. in Hollywood, Calif. According to Real Capital Analytics, the sales price was approximately $127 million. HFF represented the seller, Broadreach Capital Partners.

“We’re pleased to add this extremely well-located asset to our Los Angeles office portfolio,” said Rob Speyer, Tishman Speyer president and CEO, in a statement. “In particular, we continue to be very bullish on the Hollywood submarket as one of the key areas attracting growing companies with employees who want to live and work in a vibrant 24-hour community.”

The property, a 14-story, 204,000-square-foot office property located on Hollywood’s Sunset Boulevard, includes a five-story parking structure adjacent to the tower. It was built in 1968 and is currently 86 percent leased.  The largest tenant is BLT Communications, an entertainment marketing firm. The building also houses CNN’s West Coast headquarters.

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