February 15, 2025 Your Source for Brentwood News

Bel Air Office Building Bought by Getty Trust

The site contains 12,000 feet of recreation and outdoor workspace

By Dolores Quintana

The two-story building in Bel Air at 640 North Sepulveda Boulevard has been sold for $32.5 million as reported by Bisnow.com. It was purchased by the J. Paul Getty Trust, according to Commercial Observer, and the building sits directly across the street from the Getty Center Museum. The purchase price has doubled from the last recorded sale in 2016. 

The building was built in 1987 and was renovated in 2019 at a cost of $3 million. The site contains 12,000 feet of recreation and outdoor workspace on the site which includes a basketball court, courtyard, fire pit, outdoor patio, pet area, and lounge area according to Bisnow.com.

At the time of the sale, 27% of the building was occupied. During the first three months of 2022, the submarket of West Los Angeles sat at 19% occupancy, which is very close to the average of the overall Los Angeles market of 19.2% according to Newmark. 

Vectra Management Group was the seller of the property and they bought the property themselves in 2016 at a cost of $17 million. Vectra was represented by Newmark Private Capital Group Vice Chairman Sean Fulp and Managing Directors Ryan Plummer and Mark Schuessler. 

The J, Paul Getty Trust was represented by Newmark Executive Managing Director David Kluth and Managing Director Aliya Coher in the sale.

Related Posts

UCLA Suspends Pro-Palestinian Student Groups Following Protest at UC Regent’s Home

February 13, 2025

February 13, 2025

Chancellor Cites Potential Student Code Violations; Student Groups Reject Allegations UCLA has suspended two pro-Palestinian student organizations following a protest...

Flash Flood Warning Issued for Burn Areas, LAFD Officer Swept off Road by Debris

February 13, 2025

February 13, 2025

Storm Damage Closes Pacific Coast Highway, Officials Urge Caution Not even members of the LAFD are being spared from the...

Brentwood Crime Report: February 1, 2025 – February 8, 2025

February 13, 2025

February 13, 2025

By Senior Lead Officer Matthew Kirk For the first week of February 2025, Senior Lead Officer Matthew Kirk has written...

Culver City Police Investigate Disturbing Incident in Culver City Park

February 13, 2025

February 13, 2025

Police Secure Area as Investigation Unfolds on Thursday Morning The Culver City Police Department received a call around 7:23 a.m....

Here are Your Last Minute Ideas if You Still Haven’t Planned Your Valentine’s Day Date

February 13, 2025

February 13, 2025

Luscious Cookies, Delightful Drinks, Full Dinners at Home or In House, We’ve Got Them Okay, maybe you have been a...

Beloved Baldwin Hills Family-Owned Restaurant Post & Beam to Close After 13 Years

February 12, 2025

February 12, 2025

Community Icon Shuts Doors as Baldwin Hills Crenshaw Plaza Redevelopment  In yet another loss for the Los Angeles culinary community,...

Santa Monica Hotel Event Space Offers Affordability, Accessibility

February 12, 2025

February 12, 2025

Elevate Your Events with Versatile Venues and Exceptional Service Coastal stays and eclectic event spaces don’t have to be expensive....

Flour Pizzeria & Cafe to Bring Brooklyn-Style Pizza to Brentwood This Week

February 12, 2025

February 12, 2025

Family-Owned Favorite from the Palisades to Open on San Vicente  Flour Pizzeria & Cafe, a restaurant from Pacific Palisades run...

(Video) The Willows Students Bring a 50-Foot Dragon to Life Through Art and Teamwork

February 12, 2025

February 12, 2025

Kristy Acero, The Willows DK-4th Grade Art teacher, led her students in a large-scale, collaborative project, with each grade creating...

ART& 2025: NeueHouse Unveils Inspiring Lineup Celebrating Feminine Leadership

February 12, 2025

February 12, 2025

Four-Day Event in Venice Beach Explores Creativity, Activism, and Cultural Impact NeueHouse has unveiled the schedule for ART& 2025, a...

Brentwood Community Council Meeting For February, First Meeting After Palisades Fire

February 11, 2025

February 11, 2025

Local Leaders, Crime Updates, and Community Discussions on the Agenda The Brentwood Community Council will host its next meeting on...

Canned Tuna Pulled from Shelves Over Botulism Contamination Risk

February 11, 2025

February 11, 2025

El Segundo Seafood Company Issues Voluntary Recall Through FDA Tri-Union Seafoods has issued a voluntary recall of certain canned tuna...

Powerful Storm to Bring Heavy Rains, Possible Debris Flow to Los Angeles

February 11, 2025

February 11, 2025

Officials Warn of Risks, Urge Residents to Prepare for Severe Weather A Pacific storm system is expected to bring widespread...

Retailers Impose Egg Purchase Restrictions as Supply Chain Disruptions Cause Concern

February 10, 2025

February 10, 2025

Egg Limits Are Back – What’s Causing the Shortage? Retailers across the United States, including Costco and Trader Joe’s, have...

Esteemed Brentwood Entertainment Reporter Sam Rubin Honored at Major Awards Ceremonies

February 10, 2025

February 10, 2025

Industry Pays Tribute to a Broadcasting Legend With Special Recognition The late Sam Rubin, a longtime and beloved entertainment reporter...