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Westside office complex sold for $58 million to Santa Monica investors

February 8, 2011 |  2:11 pm

Tribeca West 1 A West Los Angeles office complex popular with entertainment-industry tenants has been purchased by Santa Monica investors for $58 million.

Ocean West Capital Partners bought Tribeca West, a 151,029-square-foot office property at 12233 Olympic Blvd. near Bundy Drive, from Broadreach Capital Partners.

Tenants in the 2.65-acre campus made up of five three-story buildings include Columbia Pictures, Vin Di Bona Productions and Disney, according to real estate data provider CoStar Group.

Broadreach, a Palo Alto real estate investment firm, bought the complex in 2005 and made renovations including a redesign of the outdoor plaza and exterior building facades.

“Broadreach transformed Tribeca West into a first-class business environment for postproduction and entertainment-related users,” said real estate broker Bob Safai of Madison Partners, who represented Broadreach in the sale.

Ocean West invests in commercial office and multifamily properties in California.

-- Roger Vincent

Photo: Tribeca West office complex in West Los Angeles. Credit: Broadreach Capital Partners