Joint Venture Acquires Sunset Media Center on Hollywood’s Media Row for $61M
Hankey Investment Company and Barker Pacific Group (BPG) have jointly acquired the Sunset Media Center, a 22-story Class A creative office tower located in the heart of Hollywood’s Media Row. The purchase, made from Kilroy Realty, totaled $61 million.
Originally constructed in 1974, the Sunset Media Center is situated at 6255 W. Sunset Blvd. in Los Angeles. The tower encompasses approximately 325,995 square feet of premium office space and was acquired at an occupancy rate of around 51%.
“Barker Pacific Group, our partner on other successful assets, brought us this opportunistic quick-close deal on the institutionally owned Sunset Media Center, and we are ready to write its next chapter in the heart of Hollywood,” said Scott Dobbins, president of Hankey Investment Company, which also provided the debt funding for the acquisition.
The sale was brokered by a team from Eastdil Secured including Michael Kathrein, Adam Edwards, Sam Baughman, and Blake Stamato, who represented the seller. The new ownership has retained JLL’s leasing team, Dana Vargas and Peter Hajimihalis, to spearhead continued leasing efforts at the property.
