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6/27/16
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A 1.9k sf office building in Hollywood has sold in a $1.8 mil transaction, which works out to $947/sf, an amount we’re told is a record price per sf for an office building in Hollywood. The building is located at 738 N. Highland Ave, just north of Melrose Ave.
The property is situated along the highly sought after Highland Avenue corridor within the Hollywood Media District Business Improvement District, with easy access to Hancock Park, Larchmont Village and West Hollywood. It is walking distance to some of the hottest design showrooms, galleries and restaurants in Los Angeles.
JLL's Nicole Mihalka and Angela Sanders represented the seller, a Los Angeles-based private investor.
"Over the past few years, we have seen an influx of capital invest in the revitalization of the Hollywood office market, creating unparalleled demand from expanding and relocating companies," said Mihalka. "With creative companies looking to differentiate themselves, companies are looking for unique buildings in a unique environment."
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