Record Sale in Culver City Creates Major Opportunity for Tenants

Sunny Hills Capital Management recently acquired the Class A office campus at 400 & 600 Corporate Pointe in Culver City for $72.5 million, or just $160 per square foot — one of the lowest price points we’ve seen in years. To put this in perspective, some tenants invest that same amount just in tenant improvements for their space.

This sale represents a major shift in the market. When a new landlord purchases an asset at such a low cost basis, it resets the economics of the building — and that’s great news for tenants. Asking rental rates at this property have already dropped by nearly a dollar per square foot since the acquisition, making it one of the most competitive Class A options in the submarket.

We’re seeing this trend across Los Angeles, with several properties reverting to lenders or selling to new ownership groups at dramatically reduced valuations. As these new owners step in, they’re able to offer lower rents and greater flexibility, creating fresh opportunities for tenants to capture value and lock in long-term savings.