John Kilroy and the Sunset
Kilroy Realty Corporation acquired the former headquarters of Playboy Entertainment on Sunset Boulevard for $210 million, or $1,179 per square foot, according to a source close to the deal. The transaction is among the most expensive ever recorded in West Hollywood.
The commercial complex, owned by Palo Alto-based Broadreach Capital, spans approximately 178,000 square feet and contains four structures. It came on the market in August, listed by HFF.
Broadreach bought the complex, at 8560-8590 Sunset Boulevard, in 2006 for $105 million, records show.
Neither HFF nor the buyer or seller was immediately available to comment on the deal.
The 2.3 acre project, which is anchored by a 10-story, 71,000-square-foot office building that’s home to the offices of Regus and Swarovski and H&M, was nearly 90 percent leased as of August, with retail tenants including Equinox Fitness, H&M and SoulCycle. It’s adjacent to one of private equity giant CIM’s latest projects, the $365 million Sunset La Cienega, which will include a 296-room boutique James Hotel.