Columbia Square

Kilroy Acquires Two Properties in Hollywood, West LA

Posted on November 1, 2012 ยท Posted in Property Acquisition

Kilroy Realty Corp. recently acquired a pair of properties in Hollywood and West Los Angeles. The company picked up Columbia Square in Hollywood for roughly $65 million and Tribeca West in West Los Angeles for $73 million.

Columbia Square is a well known 4.7 acre complex of office buildings along Sunset Blvd in the heart of Hollywood. The property used to be home to the Los Angeles operations of CBS network’s radio and television programming. The buildings currently offer 96,000 square feet of commercial space but Kilroy has stated their desire to redevelop the site and add additional office, retail and residential space but keep the same architectural look and feel of the existing buildings. The company estimates their total investment in the property will reach nearly $300 million.

Kilroy’s second acquisition, Tribeca West, is a 151,000 square foot office property on Olympic Blvd. between Bundy and Centinela. The property is currently 96 percent leased and the company did not specify whether they had any redevelopment plans.

If you’d like more information about commercial acquisition opportunities within the Los Angeles area, contact Synergy Real Estate Group today and we can prepare detailed reports showing available opportunities that fit your investment needs.