Google, which has occupied the property since 2011, remains under a triple-net lease that runs through October 2030
The Binoculars Building, a Frank Gehry-designed landmark occupied by Google in Venice Beach, has hit the market, according to The Real Deal.
Real estate investment trust W.P. Carey has listed the 78,578-square-foot office property at 340 Main Street with brokerage CBRE, though no asking price has been disclosed. The sale comes as part of W.P. Carey’s broader move to spin off 59 of its office assets into a separate REIT, Net Lease Office Properties, a process announced in late 2023, according to The Real Deal.
CBRE’s Todd Tydlaska told Commercial Observer that the building has already attracted strong interest. “This listing is a good example of what capital wants in the market right now—great locations, high-profile assets with credit tenants at attractive price bases,” he said in a statement.
Google, which has occupied the property since 2011, remains under a triple-net lease that runs through October 2030, per The Real Deal. The company has made significant investments in the area, with additional offices in “Silicon Beach,” including the 450,000-square-foot Spruce Goose hangar conversion and space in The Bluffs corporate park. However, the tech giant has also scaled back some of its L.A. real estate holdings, backing out of a planned 500,000-square-foot redevelopment at the former Westside Pavilion mall in early 2023, according to Commercial Observer.
Originally built in 1991 for advertising firm TBWA/Chiat/Day, the Binoculars Building is best known for its 44-foot-tall binocular sculpture at its entrance. Created by artists Claes Oldenburg and Coosje van Bruggen, the installation also serves as an entryway to the parking garage. W.P. Carey purchased the property in 1995 for $18.3 million.
The sale reflects broader shifts in L.A.’s office market, where major landlords have been offloading properties amid changing demand. In October, a joint venture between Strategic Value Partners and Lincoln Property Group paid $187.5 million for The Bluffs, another office complex leased to Google, per Commercial Observer.
