Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Los Angeles  + Office  | 

Rockpoint Buys Miracle Mile Tower for $312M

Boston-based Rockpoint Group acquired 5900 Wilshire Blvd., a 32-story Miracle Mile office tower, from PGIM Inc., AXA Equitable Life Insurance Co. and The Ratkovich Co. The 465,000-square-foot office building reportedly traded for $312 million.

Tenants at the property include LACMA, which leases roughly 75,000 square feet, and the building’s occupancy reportedly stands at roughly 88%.

JLL’s Tom Bohlinger handled the sale listing. The buyer was self-represented in the transaction. Bohlinger indicated the sellers completed numerous building improvements, and Rockpoint Group is expected to continue making upgrades.

Bohlinger told the Los Angeles Business Journal, “The buyer sees this market as one that has a fantastic future. It’s about the most iconic, best located property within the market. Its proximity to LACMA gives it a wonderful sense of place. LACMA also provides good stability of income.”

*Photo courtesy of The Ratkovich Co.

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: PGIM
Connect

Inside The Story

Connect With Rockpoint GroupConnect With The Ratkovich Co.Connect With JLL’s Bohlinger

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action