The Hollywood Palladium is officially back on the block.
CB Richard Ellis Group Inc. has been selected by the Hollywood Palladium’s ownership group to manage the sale of the Sunset Boulevard concert venue.
“We have already been contacted by a number of national as well as strong regional developers, and we are currently in the process of identifying the most appropriate buyer for the site,” said Timothy L. Bower, first vice president in CB’s Century City office, who will handle the sale.
Negotiations to sell the historic hall, owned by Palladium Investors Ltd., to Combined Properties Inc. broke down in late August. The sale price had been pegged at about $65 million.
Preservation groups and city redevelopment officials are seeking to have the concert hall retained in any development of the site.
