News
Japanese Investor Grabs 4-Building ‘Spruce Goose’ Office Complex
December 29, 2016
The Los Angeles home of Howard Hughes’ 200-ton Hercules H-4 plane, better known as the Spruce Goose, was recently sold to Japanese investors.
Ratkovich Co and Penwood Real Estate Investment Management sold the 358k SF Hercules Campus West to a Japanese buyer repped by Tokyo-based EGW Asset Management, Commercial Property Executive reported. The Real Deal estimated it would sell for about $230M. The four-building office complex was completed in 1953 by Hughes Aircraft Co.
The Spruce Goose hanger is leased to Google, which plans to convert the site into about 420k SF of office space.
HFF’s John Crump, Andrew Harper, Michael Leggett, Doug Bond and Ryan Gallagher repped the seller. [CPE]
