Update: This property is no longer on the market since it sold. Click here to read details on the HFF-brokered sale.
HFF, on behalf of the owner, is marketing for sale The Sunset, an iconic, experiential, mixed-use destination campus located on the world famous Sunset Boulevard in the heart of West Hollywood, California.
Totaling 178,699 square feet, The Sunset is situated on 2.22 acres at 8560-8590 West Sunset Boulevard in the western part of Los Angeles. The commercial property for sale comprises four buildings that are currently 90.4 percent leased, including a preeminent, 10-story, 71,875-square-foot, Class A office tower with a two-level, 25-stall subterranean parking garage; a three-building high-end retail and office complex totaling 106,824 square feet with a four-level, 906-stall shared underground parking garage. The total available parking spaces to the property is 931 stalls, resulting in a parking ratio of 5.21:1,000 square feet.
The office tower has undergone a multi-million dollar capital renovation, including a new exterior skin designed by the renowned Nadel Architects. It features incredible views from the Pacific Ocean to downtown Los Angeles, modern finishes, upgraded lobby and flexible floor plates. For four consecutive years, the tower was awarded an Energy Star label, and it earned LEED Gold certification in 2013. The retail plaza is anchored by an Equinox that consistently ranks as one of their best-performing gyms nationally. Additional tenants include H&M, which is the second largest global clothing retailer; SoulCycle; Oliver Peoples; Wag! and Café Primo. In addition to the retail space, H&M uses a portion of the second floor plaza space as their West Coast real estate headquarters and showroom.
The Sunset provides a unique diversification of cash flow attained through the commercial retail and office component, parking and billboard/signage advertising opportunities. The rapidly-urbanizing Sunset Strip, L.A.’s equivalent of Times Square, has experienced an unprecedented explosion of upscale residences, shopping, dining and hotel development that benefit the property. The nearly 420 feet of street frontage on Sunset Boulevard, combined with its central West Hollywood location, contributes to the property’s brand as a world class mixed-use experiential destination. The walkable amenity base and unique position within an evolving market will solidify The Sunset as an ideal location for office and retail tenants alike.
As companies continue to use real estate as a recruitment and retention tool to attract the best-of-the-best talent, The Sunset offers an unrivaled mixed-use experiential campus in an iconic location within walking distance of everything the famous Sunset Strip has to offer. For more information on this mixed-use property for sale in West Los Angeles or other investment opportunities in Southern California, contact Michael Leggett, Ryan Gallagher, Andrew Harper or Bryan Ley in HFF’s Los Angeles and Orange County offices.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.