West Hollywood Magazine

The Sunset Is Sold In WeHo’s Most Expensive Real Estate Deal

Mon, Dec 19, 2016   By Staff    6 Comments

8560-8590 Sunset Blvd. (Holliday, Fenoglio, Fowler LP)

Kilroy Realty Corp. has acquired the building complex at 8560-8590 Sunset Blvd., known as The Sunset, in what is likely the most expensive commercial real estate deal ever in West Hollywood.

The purchase, reported first by The Real Deal, a real estate trade website, totaled $210 million or $1,179 a square foot, according a source quoted by The Real Deal. Tenants in the complex include Equinox gym, H&M apparel, Olive Peoples eyewear, SoulCyle exercise salon, Swarovski, Regus and Primo, the coffee bar.

The 178,699 square foot property covers 2.22 acres and includes a 10-story, 71,875 square foot office tower and a three-building retail and office complex totaling 106,824 square feet. It is near the CIM Group’s Sunset-La Cienega project, which is nearing completion. One marketing brochure by HFF described its location as part of “the rapidly urbanizing Sunset Strip, L.A.’s equivalent of Times Square.”

The commercial complex owned by Palo Alto-based Broadreach Capital Partners came on the market in August. It was purchased in 2006 by Broadreach $105 million. It once was the home of Playboy Enterprises Inc.

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6 Comments

  1. Todd BiancoMon, Dec 19, 2016 at 12:05 pm

    It looks like the value of the billboards/advertising space was given equal consideration to the retail/office space given the above infographic. Hey, these days, $210 million is chump change for an investment fund with a bunch of big institutional and billionaire investors. .

  2. Tom SmartWed, Dec 21, 2016 at 11:09 pm

    I’m sure they want to demolish most of it so they can build 20 stories…..they just have to donate a few thousand to their cronies on the city council.

  3. GrrrrrrThu, Dec 22, 2016 at 11:25 am

    Geez with all that wasted space let’s build to the sky with towers of revolving kaleidoscopic billboards. No worries about parking or traffic, the ultimate walk street is here. Please enlist John Duran to endorse that concept. Vive la $$$$$$.

  4. J SimmonsFri, Dec 23, 2016 at 10:29 am

    Can’t say for sure, if this company has other big projects in weho, they may want the parking spaces along with city hall’s misleading parking credits scam. Allows mega buildings to not build the mandatory zoning for number of parking based on size.

    The parking at THE SUNSET may be why they paid so much for a relatively underused shopping complex.

  5. MattMon, Jan 09, 2017 at 4:50 pm

    Great article. I bet they will demolish it, and start all over. Great piece of real estate.

  6. HaletikiFri, Feb 10, 2017 at 5:28 pm

    Will Weho City Council have the insight to support a “Sunset Plaza” Concept or just lose it?

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