California CRE News In Your Inbox.

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

Sub Markets

Property Sectors

Topics

California  + Los Angeles  + Office  | 
West Hollywood Redevelopment Property Trades for $47M

West Hollywood Redevelopment Property Trades for $47M

CBRE has announced the sale of a 1.6-acre property on North La Brea Boulevard in West Hollywood, CA for $47 million. The site, currently housing building materials company CEMEX, was acquired by a private local developer. CEMEX will continue operating while the new owner finalizes development plans.

The property sits within the area’s emerging entertainment and life sciences district and in proximity to The Lot at Formosa studio campus. Other companies in the immediate area include Sirius XM and Live Nation-Ticketmaster, as well as several art galleries, retail and restaurants.

“Because the property is one of very few remaining commercially zoned parcels of significant size in the market, it represents one of only a few opportunities to amass considerable density within West Hollywood and Los Angeles. We saw a considerable amount of interest for this deal,” said CBRE’s Dean Zander who facilitated the transaction along with Stew Weston and Chris Tresp.

Connect

Inside The Story

CBRE

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
  • ◦Development
Chase-08-cube
LeeAssociates-21-cube
Chase-08-cube
New call-to-action