HFF Closes the Sale of Trophy Santa Monica, California, Office Property
October 03 2016 - 4:21PM
Business Wire
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.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc.
(NYSE:HF). HFF operates out of 23 offices nationwide and is a
leading provider of commercial real estate and capital markets
services to the U.S. commercial real estate industry. HFF together
with its affiliate HFFS offer clients a fully integrated national
capital markets platform including debt placement, investment
sales, equity placement, advisory services, loan sales and
commercial loan servicing. For more information please visit
hfflp.com or follow HFF on Twitter @HFF.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161003006405/en/
HFFRyan Gallagher, 949-253-8800CA Lic. #01269918HFF
Senior Managing Directorrgallagher@hfflp.comorMichael
Leggett, 415-276-6300CA Lic. # 01056334HFF Senior Managing
Directormleggett@hfflp.comorKristen Murphy, 617-338-0990HFF
Director, Marketingkrmurphy@hfflp.com
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