Joint venture partners Hankey Investment Company and Barker Pacific Group (BPG) have acquired Sunset Media Center, a 22-story Class A creative office tower on Hollywood’s Media Row, from Kilroy Realty for $61 million. Built in 1974 and located at 6255 W. Sunset Blvd. in Los Angeles, Sunset Media Center features 325,995 square feet of Class A office space. The property was acquired at approximately 51% occupancy.
“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, who also funded the debt for the purchase.
An Eastdil Secured team led by Michael Kathrein, Adam Edwards, Sam Baughman and Blake Stamato represented the seller. New ownership is retaining JLL’s leasing team of Dana Vargas and Peter Hajimihalis to continue lease-up efforts at the asset.
