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10800 West Pico Boulevard

UCLA Acquires Westside Pavilion Mall In Rancho Park, Los Angeles
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UCLA Acquires Westside Pavilion Mall In Rancho Park, Los Angeles

10800 West Pico Boulevard, 10830 West Pico Boulevard & 10850 West Pico Boulevard

Building Size

1,740,000 SF

Asset Type

Retail

Closing

Dec 27, 2023

AI

The Westside Pavilion mall in Rancho Park, Los Angeles, has been sold in a transaction that disrupts Google's plan for a Los Angeles office campus. The property, located at 10800-10830 & 10850 West Pico Boulevard, covers a total area of 580,000 square feet and is classified as a retail asset. The sale involved a buyer and seller, with UCLA's Gene Block representing the buyer and Hudson Pacific Properties' Victor Coleman representing the seller. The specific purchase price and other financial details have not been disclosed.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Date: 12/27/2023
  • Address: 10800-10830 & 10850 West Pico Boulevard
  • Market: Rancho Park, Los Angeles
  • Seller: Hudson Pacific Properties - Victor Coleman
  • Buyer: UCLA - Gene Block

This deal marks the end of Google's One Westside project as UCLA's purchase of the Westside Pavilion mall includes the area that Google had begun renovating for its office campus. The exact plans for the property by UCLA have not been disclosed at this time.

Players

Gene Block

UCLA

Buyer

$160M

vol

3 deals

Buyer

Victor Coleman

Hudson Pacific Properties

Seller

$1.6B

vol

9 deals

Seller

Los Angeles Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93