Newmark Completes Sale of Repositioned Office Campus in Culver City, California

June 27, 2025 9:00 AM

Newmark announces the company has arranged the sale of 400 & 600 Corporate Pointe, a 461,960 square-foot, two-building, Class A office campus located in Culver City, California. The property sold for an undisclosed amount.

Newmark Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Ken White, Rob Hannan, Michael Moll and Laura Stumm represented the undisclosed seller, with Executive Managing Director Bill Bloodgood and Director Alex Bergeson serving as local market leasing experts.

The buyer was Sunny Hills Management Co. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process.

“This is another example of a family office syndicate, which included both domestic and foreign investors, taking advantage of a tremendous basis opportunity,” said Shannon. “Culver City is a desirable West Los Angeles submarket which will provide tremendous long-term upside for these patient basis investors.”

Moll added, “We are seeing more capital willing to buy office at a new reset basis with conviction that property values will rebound as both capital market and leasing fundamentals improve.”

400 & 600 Corporate Pointe have recently undergone an extensive capital renovation totaling $18.7 million, or approximately $40 per square foot, further enhancing the quality of the asset while offering tenants a highly amenitized work environment. The property is leased to 35 tenants across a broad industry base including insurance, entertainment, real estate, co-working, healthcare, cosmetics and research.

The property offers direct access to both the 90 and 405 Freeways, an attractive above-market parking ratio and immediate access to an abundance of amenities found within Westfield Culver City, HHLA, downtown Culver City and Playa Vista.

According to Newmark Research, Culver City remains a leading technology and media hub within Silicon Beach, with 1.2 million square feet of leasing activity in 1Q25 and rental rates averaging $5.25 per square foot. Supported by Expo Line connectivity and a revitalized downtown, the submarket anchors include notable tenants such as Apple, Amazon and HBO.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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