8300 SUNSET BLVD
In a landmark transaction, the historic property at 8300 W. Sunset Blvd., formerly known as The Standard Hotel, was sold for $112.5 million, making it the largest commercial real estate deal in Los Angeles in 2023. Owen Garitty, working with Springfield, Oregon-based Rittersbacher Sunset LLC, the property’s seller, spent seven years strategically positioning this prime Sunset Strip asset for market, culminating in a successful sale to entities tied to renowned hospitality moguls Ed Scheetz and Ian Schrager. With their deep expertise in luxury and lifestyle hospitality, this acquisition signals a major win for Rittersbacher Sunset LLC, reaffirming the property’s long-term value and appeal.
Garitty’s patient and calculated approach ensured the property was marketed to its fullest potential. Together with Rittersbacher Sunset LLC, he spearheaded a comprehensive marketing strategy, managed agents, and oversaw asset preservation to maintain the site’s integrity and maximize value. The successful sale highlights Garitty’s and Rittersbacher Sunset LLC’s foresight, innovative strategy and seamless execution that sets the stage for how commercial real estate strategies are evolving.
RESULTS
Since its founding in 2013, FPW has grown from a small team of hard-working photographers and brand experts to a company with over 40 employees across three divisions. These divisions– Brand, Film, and Merchandise, allow FPW to design and implement client service entirely in-house. This cuts out the potential for misinterpretation of a client’s goals and increases operational efficiency.
FPW has received numerous awards for its work in the past decade, including Vega Digital Awards and MUSE awards for creativity and design. In 2020 and 2022, FPW was named one of Adweek’s “fastest growing agencies.” Its consistent performance, dedication to client success, and strong client relationships help FPW achieve its mission to meet client goals through an unconventional “un-agency” approach.
