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The REIT acquired the Frank Gehry-designed property, which features a 44-foot tall binoculars statue, for about $18 million about 30 years ago.
By Nick Trombola
03.24.25
W.P. Carey CEO Jason E. Fox and the Binoculars Building in Venice, Calif. PHOTOS: Courtesy W.P. Carey; Kevork Djansezian/Getty Images
Google (GOOGL) search: Find an office buyer in Los Angeles.
The owner of the eye-catching Binoculars Building in Venice Beach will use the spectacles to find an investor to take the Frank Gehry-designed office property off its hands.
Net Lease Office Properties, a spin off of real estate investment trust W.P. Carey, is listing the themed building — named for the 44-foot-tall binoculars in front of the 78,578-square-foot property’s entrance — for sale via brokers CBRE (CBRE), according to The Real Deal. Tech giant Google has occupied the building since 2011.
An asking price for the property, at 340 Main Street and known as Google Venice 1, was not immediately available. It doesn’t appear as though the tech giant has plans to vacate the property, as its lease there isn’t up for renewal until 2030, per TRD. CBRE’s Todd Tydlaska, Sean Sullivan, Michael Longo, Melissa Moock and Grant Goldman are marketing the building for sale.