This story has been updated. Please see editor’s note below.
Entrepreneurial real estate services firm Industry Partners successfully brokered the sale of the 32,417-square-foot office complex of toy company JAKKS Pacific, located above Carbon Beach at 22619 Pacific Coast Highway in Malibu, according to a release from DB&R Marketing Communications, Inc.
The iconic 32,417-square-foot office building, aka “The Enclave,” was designed by award-winning architect Clive Bridgewater and sold to Pacshore Partners.
Founded in 1995, JAKKS operations outgrew the three-building office campus and will relocate to a new building in Santa Monica.
Characterized by contemporary architecture featuring steel columns and wood beams, the property also includes 180-degree ocean views, ample parking and large private balconies.
Sold by Theory R. Enclave LLC, the complex will be marketed toward either multi- or single-tenant use.
In addition to the sale of “The Enclave,” Industry Partners brokered the sale of a two-story, 39,600-square-foot Playa Vista building previously owned by Garbo Holdings, LLC.
Built in 1969, previous tenants included Sony and most recently Hydraulix, a feature film visual effects company. A significant core and shell renovation project will begin soon on the building, in hopes of attracting first-class creative tenants, according to the release.
Editor’s note: a previous version of this story listed an incorrect buyer for the property.