Former Playboy Building Sold

The former headquarters of Playboy Enterprises Inc. has been sold to Palo Alto-based Broadreach Capital Partners along with an adjoining shopping center for $100 million.
By: ALLEN P. ROBERTS Jr.: Los Angeles Business Journal Online
The Sunset Millennium complex, located in West Hollywood, was sold by New York-based Apollo Real Estate Advisors, and according to reports, Broadreach is planning to refine the existing retail center by adding upscale shopping and high-end restaurants.

Apollo renovated the 43-year-old building in 2001 and built the shopping center next door a year later with plans to further develop the area.

However, development has faced opposition by local groups saying further development to the west will increase traffic and pollution. However, a Los Angeles Superior Court judge ruled in favor of the project earlier this year, which includes plans for two hotels and a condo complex.