CNN Tower in Hollywood Changes Hands
Tishman reportedly paid more than $600 per square foot to acquire the office tower from Broadreach Capital Partners.
By Alex Girda, Associate Editor
Los Angeles–The building that houses CNN’s west coast headquarters was recently acquired by Tishman Speyer in a deal worth around $127 million. The New York-based company acquired the office asset from Broadreach Capital Partners who worked Todd Tydlaska, Andrew Harper, Ryan Gallagher and Michael Leggett of HFF during the sale process. An HFF team consisting of Mark Wintner and Todd Sugimoto provided acquisition financing for the buyer.
6430 Sunset
Located at 6430 Sunset Blvd., the 204,000-square foot office building is the home of CNN’s west coast HQ. The property’s largest tenant is giant entertainment marketing firm BLT Communications. A five-story parking structure is adjacent to the 1968-built office tower.
According to Tishman Speyer President & CEO Rob Speyer, the company is “very bullish on the Hollywood submarket as one of the key areas attracting growing companies with employees who want to live and work in a vibrant 24-hour community.”
The iconic office tower is well-known for the presence of the CNN logo at the top of the 14-story building. Tishman Speyer announced that it is looking to update the property “for today’s workstyle”, with growing demand from media, entertainment and tech companies informing the upcoming repositioning process.
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