The 22-story Sunset Media Center on West Sunset Boulevard has changed hands, with a joint venture led by Hankey Investment Co. and Barker Pacific Group picking up the Hollywood high-rise for $61 million. The new owners say they are opting for a measured lease-up strategy rather than rushing into a major overhaul of the tower.
According to the Los Angeles Business Journal, the 325,995-square-foot office tower at 6255 W. Sunset Blvd. traded at roughly $187 per square foot and was about 51 percent leased at the time of sale. Kilroy Realty sold the property as part of a broader reshuffling of its office portfolio. The building, originally constructed in the 1970s, underwent a multimillion-dollar renovation in 2014.
Buyers Plan Slow-And-Steady Leasing Push
Barker Pacific executive Mark Handin has framed the deal as an opportunistic purchase with upside tied largely to lease-up. As Bisnow reported, Handin said the joint venture acquired the high-rise "at a fraction of replacement cost." Industry coverage places the tower squarely in Hollywood's media corridor and notes that it was roughly half occupied at the time of closing. Scott Dobbins of Hankey Investment said the partners are "ready to write (Sunset Media Center’s) next chapter in the heart of Hollywood," according to REBusinessOnline. The buyers say they expect to close several new leases this year while treating the tower as a long-term hold.
JLL Brought In to Fill the Tower
The new ownership has tapped JLL brokers Dana Vargas and Peter Hajimihalis to lead leasing and marketing efforts at Sunset Media Center, per JLL's listing. JLL notes average floor plates of about 18,500 square feet. With roughly half the building still available, the brokerage team is expected to zero in on media and creative users that fit the Hollywood address.
Who Is in the Building Now
Trade listings and industry reports show a tenant roster that includes the Hollywood Chamber of Commerce, OpenTable, Slickdeals and the AIDS Healthcare Foundation, underscoring the property’s media-oriented draw. The 22-story tower’s 2014 renovation refreshed the lobby and common areas and added an outdoor plaza aimed at appealing to creative-office tenants. Floor-by-floor tenant details, along with confirmation of the building’s address near transit and major studio employers, are outlined in LoopNet and other brokerage materials.
Why the Deal Penciled Out
The roughly $187-per-square-foot price tag highlights how some investors are targeting well-located Class A offices at steep discounts to replacement cost, betting that leasing momentum will eventually catch up. Bisnow reports that the Greater Los Angeles market recorded more than 14 million square feet of office leasing in 2025, a level of activity that could help assets like Sunset Media Center lift occupancy over time. Against that backdrop, the buyers appear comfortable paying now and focusing on tenant outreach instead of near-term redevelopment.
What comes next will likely show up first in leasing headlines: new deals from JLL’s team, any tweaks to interiors and amenities, and whether the owners can move the occupancy needle without launching major capital projects. Trade coverage has indicated that the partners expect to land several leases this year, so industry outlets and brokerage listings will be the earliest source of updates. REBusinessOnline has the initial rundown and is positioned to track the next round of big tenant moves.
