Douglas Emmett Buys 233 Wilshire, a Landmark Office Building in Santa Monica, CA

HFF closes sale of trophy Santa Monica, California, office property.
HFF marketed the property on behalf of the seller, and procured the buyer, Douglas Emmett, Inc., who purchased the asset free and clear.

October 3, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of 233 Wilshire, a landmark, 128,935-square-foot, trophy office building in downtown Santa Monica, California.

HFF marketed the property on behalf of the seller, and procured the buyer, Douglas Emmett, Inc., who purchased the asset free and clear.

233 Wilshire is situated on the corner of Wilshire Boulevard and 3rd Street in downtown Santa Monica, one of the most desirable office locations in Southern California. The property is adjacent to the 3rd Street Promenade, which attracts more than 15 million visitors per year and features retailers Nike, Nordstrom, Bloomingdale’s, Apple, Tesla and Lululemon, among others. Additionally, 233 Wilshire has access to more than 375 food, retail and entertainment options within one mile of the property. The Class A asset features floor-to-ceiling ocean and mountain views, a newly-renovated lobby and common areas and a 385-stall subterranean parking garage. 233 Wilshire is 91 percent leased to tenants, including Luther Burbank Savings, Tunnel, Inc., Hirschfeld Kraemer LLP, GoodRX, Inc. and Enenstein & Ribakoff.

The HFF investment sales team representing the seller was led by senior managing directors Ryan Gallagher and Michael Leggett, who is also co-head of HFF’s West Coast team, directors Andrew Harper and Tim Geiman and real estate analyst Michael Matchett.

[button href=”http://www.douglasemmett.com” style=”flat” size=”medium” color=”#dd3333″ target=”_blank”]FOLLOW DOUGLAS EMMETT[/button]

Categories
CommercialLos AngelesNationalOfficeSalesSilicon BeachWest

RELATED ARTICLES