Sunset Strip Complex Fetches $100 Million

A West Hollywood office and retail complex has sold for $100 million. On Tuesday, Broadreach Capital Partners announced its acquisition of the Sunset Millenium complex. The centerpiece of the complex is the former Playboy building, a 10-story, 78,000 sq. ft. Class-A office tower that was built in 1963. Apollo Real Estate Advisors LP sold the property to Broadreach.

“We were drawn to this project because it couldn’t be more perfectly suited for its location on the Sunset Strip,” says Broadreach Capital Partners’ managing director David Simon. “Apollo Real Estate Advisors did a wonderful job with the office building renovations.”

Next to the former Playboy tower is a two-story, 106,000 sq. ft. retail/restaurant complex. According to Broadreach Capital Partners, the retail center is 88% leased. The anchor tenants are Equinox Fitness Center and H & M Clothier. The retail center also has a subterranean garage with 1,200 parking spaces. Broadreach, a privately held real estate firm, plans to make extensive renovations to the property.

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