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Commercial Real Estate Insights
Colliers Facilitates Sale of ±100k SF Ocean Park Plaza
Vice Chair Sean Fulp, Executive Vice Presidents Mark Schuessler and Todd Tydlaska, and Associate Vice Presidents Jordan Garcia and Blake Hammerstein of Colliers exclusively marketed the property and facilitated the transaction on behalf of the seller. Tim Dornin and Scott Rigsby of Industry Partners and Dan Pickart of Newmark represented the buyer.
The sale repositions a high-quality, largely vacant office building for active community use. Ocean Park Plaza had approximately 73% of its space available for immediate occupancy, and the acquisition returns the asset to full utility while removing it from the area’s office inventory. This dynamic benefits surrounding owners as office supply tightens across the submarket.
“This is a great outcome for Santa Monica,” said Sean Fulp. “A well-located, recently renovated building that was sitting largely empty now has a committed long-term user that will serve the community. The buyer gets a campus in the heart of the Westside, and the neighborhood gains an institution that adds real activity and stability.”
The property sits directly across from the Santa Monica Business Park, a 500,000-plus square-foot creative office campus where Snap Inc. recently signed a 10-year lease for 470,000 square feet. The broader Ocean Park area is undergoing significant change, including the planned 2028 closure and reimagining of the Santa Monica Airport, which is expected to be redeveloped largely as public open space.
Directly across the corridor, the office building at 2716 Ocean Park Boulevard is the subject of a proposed 456-unit mixed-use residential redevelopment. Together with the acquisition of Ocean Park Plaza, these projects are steadily removing office product from the submarket—concentrating remaining tenant demand into a shrinking pool of quality space and strengthening fundamentals for the buildings that remain.
Fulp added, “The fundamentals in this pocket of Santa Monica continue to strengthen. As office buildings are taken off the market and repurposed, the remaining inventory becomes more valuable, and tenants displaced by those conversions need quality space nearby. That’s a healthy cycle for the submarket.”
Ocean Park Plaza has benefited from approximately $8 million in capital improvements since 2017, including an upgraded outdoor atrium and courtyard, refreshed façade finishes, renovated restrooms, and modernized building systems. Its flexible zoning, ample parking, and campus-like environment made it well-suited for an owner-user.
“Ocean Park Plaza is exactly the kind of asset that draws committed users in this market: turnkey quality, strong frontage, and a location at the epicenter of Silicon Beach,” said Blake Hammerstein. “Bringing an educational institution into the building reflects the kind of adaptive, community-oriented outcomes that are reshaping the Westside.”
July 16, 2026
Colliers Facilitates $210 Million Receivership Sale of Bank of America Plaza
June 16, 2026 - Los Angeles, Calif., June 16, 2026 – Colliers announced today the sale of 333 S. Hope Street (Bank of America Plaza) in Downtown Los Angeles. The landmark 1.4 million-square-foot asset traded through a receivership sale, with fee-simple title delivered at closing. The asset traded for $210 million, making it the largest office sale in Los Angeles in 2026. The sale reflects continued recalibration in office pricing and growing investor focus on long-term value in premier assets. Vice Chair Sean Fulp, Executive Vice Presidents Mark Schuessler and Todd Tydlaska, and Associate Vice Presidents Jordan Garcia and Blake Hammerstein of Colliers’ investment sales team exclusively marketed the property and facilitated the transaction on behalf of the court-appointed receiver, Chris Nielsen, Managing Partner and Co-Head of Trigild. The buyer, Capital Group, was represented by Kevin Bender and Andrew Harper of JLL. “The sale is a meaningful step forward in the evolution of Downtown Los Angeles and another benchmark transaction for our team, said Mark Schuessler. We generated interest from both private and institutional investors, as well as foreign capital, and ultimately a partial user. In conjunction with the receiver and special servicer, we were able to deliver pricing and deal terms that exceeded expectations, without a need for seller-financing.” Sean Fulp added, “Executing a transaction on this scale requires thoughtful strategy and intimate knowledge of the stakeholders. Bank of America Plaza is one of the largest and most recognizable office towers in Los Angeles, and the level of interest we received underscores the depth of capital pursuing premier office assets with a story.” The 57-story, Class A, high-rise is a prominent fixture in the Los Angeles skyline, offering premier office space, panoramic city views, and a central location within the city’s Financial District. As a defining component of the downtown core, the property combines scale, design, and functionality, with best-in-class amenities and a strong presence within one of the West Coast’s most important business hubs. Capital Group plans to consolidate its Los Angeles operations into the building and significantly invest in the asset to bring it to a best-in-class standard. Eventually, they expect that it will be home to more than 2,100 employees. “Investors and users are increasingly looking beyond short-term market volatility and focusing on assets that offer scale, quality, and strategic positioning,” said Todd Tydlaska. “Capital Group’s long-term investment should send a strong message to the broader market about downtown's future.” “Executing assignments of this magnitude showcases the differentiated capabilities of our team and platform,” said Ricado Pacheco, Senior Managing Director | Los Angeles & Santa Barbara. “It reinforces our position as leading capital markets advisors in Los Angeles and our ability to deliver on the market’s most significant opportunities.”
THE RISE OF PARTIAL-INTEREST TRANSACTIONS IN INSTITUTIONAL OFFICE
April 30, 2026 - Across the institutional office landscape, a distinct transaction category has gained meaningful momentum: the partial-interest transfer. These transactions include individual investors selling limited partner (LP) positions, individual lenders in a loan syndicate liquidating their positions, existing owners bringing in joint venture partners or “rescue” capital, and even fee simple owners selling their position in a ground lease in a collapsed structure to maximize value of the combined real estate. These transactions offer a targeted entry point into generational assets — often at a basis that would be difficult to replicate in an outright sale. The larger the asset, the greater the number of participant investors or lenders, and the higher the degree of complexity all correlate with the possibility of a partial-interest transaction. Two recent Colliers-led engagements illustrate the breadth of this structure: an equity interest in Pacific Coast Towers (PCT), a 1.6 million square foot Class A campus in El Segundo, California, and a debt interest in the first-mortgage secured by 999 Third Avenue, a 985,958 square foot Class A tower in downtown Seattle. Taken together, these deals point to a broader shift in how institutional capital is accessing — and exiting — complex office positions.
Colliers Brokers +733k SF Tech Park Sale in Goleta, CA
March 19, 2026 - Southern California, March 19, 2026 – Colliers is pleased to announce the recapitalization sale of the Tech Park @ Goleta Portfolio, a landmark Class A, 17-building technology campus comprised of five business parks spanning 733,497 SF in the Central Coast city of Goleta, California. The transaction marks one of the most notable trades in a market defined by limited supply and muted transaction activity. The portfolio was acquired for an undisclosed figure through a recapitalization that included Majestic Asset Management, Praelium, Blackbird Investment Group, and H.I.G. Capital, introducing new institutional capital and strategic oversight and positioning the campus for continued growth and long-term value creation. The seller, David Fradin, Head of Majestic Asset Management, has spent years thoughtfully preparing the portfolio for this next phase of ownership, adding value through leasing, tenant buildouts, branding, and targeted upgrades across the five campuses. Majestic is currently identifying potential industrial opportunities throughout the Western U.S. to purchase for its exchange. The acquisition meaningfully enhances the partners’ strategic positioning within one of Southern California’s most sought-after and supply-constrained markets. “Goleta’s combination of entrenched technology and aerospace tenants, limited new supply, and strong institutional ownership continues to support long-term investor conviction in the market,” said Sean Fulp, Vice Chair at Colliers and lead broker on the transaction. “We continue to see sophisticated capital prioritize high-quality R&D and industrial assets in Goleta given the market’s durable fundamentals and long-term growth trajectory.” Alongside Fulp, the Colliers team of Vice Chair Michael Kendall, Executive Vice Presidents Mark Schuessler and Gian Bruno, Senior Vice President Kenny Patricia, and Associate Vice President Blake Hammerstein partnered with local market experts Francois DeJohn and Caitlin Hensel, Partners at Hayes Commercial Group, in exclusively marketing the portfolio and facilitating the deal on behalf of all parties. CBRE Executive Vice Presidents Brad Zampa and Mike Walker provided debt and structured finance advisory. The transaction further reflects the momentum behind Colliers’ expansion into the Central Coast. Following the firm’s Santa Barbara office opening last year, the local platform is poised to capture growing investor and occupier demand and support future opportunities throughout the region. Designed to support a broad range of uses, including office, flex, laboratory, and industrial, the portfolio offers a dynamic environment tailored to innovation-driven tenants. Approximately 85% of the portfolio is dedicated to industrial and R&D space, aligning with strong demand from advanced manufacturing, aerospace, defense, medical device, and emerging technology users. Located along California’s Central Coast and in close proximity to the University of California, Santa Barbara, Goleta has emerged as a hotbed for technology, aerospace, defense, and medical device companies. The region benefits from a strong research ecosystem, a highly educated workforce, and a collaborative business environment that fosters commercialization and growth. The city is home to major global and national corporations, including Google, Microsoft, Yardi, Lockheed Martin, Raytheon, and Sonos. In recent years, the market has also seen accelerating momentum from quantum computing and artificial intelligence companies, further diversifying and strengthening the local economy. For additional information, please contact: Leanne Daly Manager, PR & Communications U.S. West Region Leanne.Daly@colliers.com 760-930-7941