Project Description

Pacific Palisades, California – August 10, 2015: Madison Partners is pleased to announce the sale of Sunset & PCH, a one-of-a-kind oceanfront office campus located at 17383 Sunset Boulevard in the Pacific Palisades area of Los Angeles for $53,000,000 ($511/SF) to a national real estate equity firm.

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Sunset & PCH is an irreplaceable asset situated on a bluff facing the Pacific Ocean at the intersection of Sunset Boulevard and Pacific Coast Highway Рtwo of Southern California’s most recognized thoroughfares. The property consists of three separate buildings totaling 103,786 rentable square feet. Constructed in 1985 and 1989, and renovated in 2001 and 2014, Sunset & PCH contains one 4-story building and two 3-story buildings surrounding landscaped courtyards and seating areas.

Located in a highly-recognized setting and surrounded by some of the most affluent residential and commercial communities in the country, 17383 Sunset Boulevard represents a unique coastal office environment. The property is home to the Bay Club (formerly Spectrum Athletic Club), a premium on-site fitness facility, and features a diverse tenant roster consisting of national, regional, and local tenants such as OneWest Bank, Maui & Sons, Red Bull Global Rallycross, and Adamson Associates.

Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, a joint venture of Lincoln Property and Linwood Ventures, in the widely-marketed offering of the property, which garnered very strong interest from a broad range of prospective buyers. Madison Partners also arranged bridge financing for the Buyer with Wells Fargo.