February 16, 2016
New York-based Tishman Speyer has acquired the CNN Building in Hollywood for more than $127-million, which is about $160 above the average psf price in Hollywood last year. The seller of the 204,122-square-foot Class A office property at 6430 West Sunset Blvd. was Palo Alto-based investment firm Broadreach Capital Partners, who acquired the building in 2006 for $52 million.
Tishman plans to modernize the 84-percent occupied tower, now anchored by CNN’s parent company Turner Broadcasting System, the movie-trailer-maker BLT & Associates, and advertising agency Oxford Road.
HFF’s Todd Tydlaska and Andrew Harper represented Broadreach in the sale, with leasing guidance from Madison Partners’ Steven Salas, Tony Ranger and Joe King. Tishman Speyer was self-represented in the acquisition.