April 8, 2019
Newport Beach, CA-based Breevast US purchased two Class A office buildings totaling 158,776 square feet from Ocean West Capital Partners for a combined $154 million. The off-market sales included 8942 Wilshire Blvd. in Beverly Hills and 4525 Wilshire Blvd. in Los Angeles (pictured).
8942 Wilshire, known as The Wilshire La Peer Building, is located at Wilshire and LaPeer Drive. The three-story, nearly 83,000-square-foot building includes a three-level subterranean parking garage. The recently-renovated asset serves as Paradigm Talent Agency’s global HQ.
4525 Wilshire is situated at Wilshire and Rossmore in the Park Mile submarket. The three-story 76,000-square-foot property recently underwent an extensive renovation that added a modern lobby, new restrooms, high and exposed ceilings, polished concrete floors, and outdoor amenities.
Madison Partners’ Bob Safai, Matt Case, and Brad Schlaak represented the parties and procured financing for the buyer on both projects, as well.
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