Hudson Pacific Properties announced this month that it had purchased 6922 Hollywood Boulevard in Hollywood, California from CIM Group for $92.5 million, or $450 per square foot. Sean Sullivan of Eastdil Secured negotiated for the seller and Bob Safai with Madison Partners represented the buyer.
"We are excited to add this highly regarded property to our growing portfolio of quality office assets," said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties, Inc. "This transaction marks our fourth Hollywood property and seventh acquisition in the last twelve months, as we build on the burgeoning presence of the media and entertainment industries in this submarket."
Commonly known as the TV Guide Hollywood Center and headquarters for CIM's corporate operations, the 12-story 205,522-square-foot office building is fully leased to a mix of media and entertainment tenants including Trailer Park, a movie trailer post-production studio and advertising agency, and J2 Global Communications, the owner of the eFax and KeepItSafe brands according to a CoStar report.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment