CNN Building to be sold for $127 million

CNN Building, the name of the skyscraper that CNN’s Los Angeles bureau is headquartered out of, is expected to be for sold in a sale to close this week for $127 million, reports The Real Deal, which covers LA-based real estate.

New York-based Tishman Speyer will pay the seller, Palo Alto-based investment firm Broadreach Capital Partners, more than $600 a square foot for the 204,122-square-foot Class A office property at 6430 West Sunset Boulevard.

Tishman Speyer plans on raising rent, sources tell the Real Deal.

Although it is called the CNN Building, CNN is a tenant, and doesn’t actually own the building.

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