Match Group Sells West Hollywood Office for $36 Million

Match Group Sells West Hollywood Office for Million

Tinder and Hinge parent company Match Group broke up with an office building on the world-famous Sunset Strip.

The 74,000 square-foot property at 8800 West Sunset Boulevard in West Hollywood traded hands for $35.5 million, according to property records dated early December. The price amounts to $480 per square foot.

Bank of America issued a $28.4 million note for the transaction, according to records. Match’s ex-parent company, IAC, has its name on the seven-story building.

Omega Law Group founding partners Edwin Saghian, Robin Saghian and Shahab Mossavar-Rahmani signed the loan document and are members of the limited liability company named as grantee.

It could be the partners were representing a client, but because their accident and injury firm is located at the purchased property, according to their website, it is more likely they are the buyers.

Neither Match nor Omega responded to requests for comment.

Barry Diller’s IAC spun off its shares of Match more than five years ago, and Match became the owner of 8800 West Sunset Boulevard and 8833 Sunset (which it still owns and was designed by the late Frank Gehry) in exchange for shares of common stock equal to $73.2 million and $46.8 million, respectively, according to a Securities and Exchange Commission filing.

But that was before the pandemic and the subsequent remote takeover that killed a need for a lot of office space. West Hollywood offices have a 18 percent vacancy rate, which is much better than downtown’s 33.3 percent, a poster-child for distress — but worse than Century City’s 12 percent.

The priciest Los Angeles County office sale all year occurred downtown: Uncommon Developer’s $210 million purchase of the Brookfield-owned 601 South Figueroa Street, a deal only came out to about $200 per square foot.