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Colliers Negotiates Sale of Creative Office Compound in Hollywood

HOLLYWOOD, CA – A team of Colliers International brokers has negotiated the landmark sale of a 4,320-square-foot creative office compound in Hollywood for $4.1 million and, in the process, establishing a new per-square-foot pricing benchmark of $949, highest PSF price ever recorded in that office submarket.

Colliers Executive Vice President Nathan Pellow and Associate Patrick Moody, both based in the brokerage firm’s downtown Los Angeles office, represented the seller, Weinandroses LLC, a privately held real estate investment firm.

This sale and the multiple bids it attracted underscore several positive factors about the Hollywood office submarket, in particular, but also about the greater L.A. office market, overall,” said Pellow, who only weeks prior to this transaction led a Colliers team in securing a record $57 million lease at the new 73-story Wilshire Grand Center in downtown Los Angeles. “It demonstrates that the rising economic tide does, indeed, lift all boats eventually, and that nearly every office submarket has benefitted from the continuing economic growth we are witnessing.

After receiving more than a dozen bids in the weeks following its initial listing, an unnamed music production company submitted the winning bid to purchase the property, which underwent a complete renovation in 2008. Located at 6507-6509 De Longpre Ave., the compound, which includes private gated parking and a fully wired security/sound system, previously was occupied by Go Film, a commercial and television production company.


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About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 12,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

Colliers is led by an experienced leadership team with a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.

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