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The Olympic Boulevard complex, home to a variety of movie and TV production houses, is expected to go for as much as $75 million. Seller is Broadreach Capital Partners, a Palo Alto commercial real estate investment firm. From THR:
The 151,029-square-foot, Class A complex has hit the market as commercial real estate values have begun to recover after being walloped by the recession. However, a lack of easy access to financing has made it difficult for investors to acquire trophy assets. Still, Tribeca West, situated on 2.65 acres near the intersection of Olympic Boulevard and Bundy Drive, has a lot going for it. In addition to the prime location, the property is fully leased and generates about $5 million in annual net operating income.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.