The Georgetown Company Acquires Hollywood Office For $93M

The office property located at 1350 North Western Avenue in Hollywood has been sold for a price of $93,000,000. The property spans across 3.5 acres of land and offers a total floor area of 75,600 square feet. The sale price per square foot stands at $1,230. The transaction took place on February 25, 2022. The buyer of the property is The Georgetown Company, while the seller is Gemdale USA Corporation. Kevin Shannon, Ken White, Rob Hannan, and Laura Stumm of Newmark represented both parties in the deal.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $93,000,000
• Address: 1350 North Western Avenue, Hollywood
• Market: Hollywood
• Acres: 3.5

Kevin Shannon, Ken White, Rob Hannan, and Laura Stumm from Newmark played key roles as the brokers representing The Georgetown Company and Gemdale USA Corporation in the sale of the office property. Their expertise and negotiation skills facilitated the successful completion of the transaction.