Victor Coleman Of Hudson Pacific Properties Sells Office Campus In Los Angeles For $231M

An office asset located at 12333 West Olympic Boulevard in Los Angeles has been sold for $231,000,000. The property encompasses 284,000 square feet, resulting in a price per square foot of approximately $813.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $231,000,000
• Buyer: Dylan Jadeja - Riot Games
• Seller: Victor Coleman - Hudson Pacific Properties
• Square Footage: 284,000
• Price Per Square Foot: $813

The sale involved Hudson Pacific Properties selling its Element LA creative office campus. The transaction also included an $81 million tenant termination fee, which contributed to the total amount received. The future of the property remains uncertain, with potential plans for a 238-unit mixed-use residential redevelopment proposed by Hudson Pacific or the possibility of maintaining it as a stabilized office campus under the new ownership.