BUSINESS

Office building near downtown L.A. sells for $50 million

A 1970s-era office building in the Westlake neighborhood near downtown Los Angeles that houses a branch of the L.A. Superior Court has sold for $50 million to prominent local real estate investor Jamison Services Inc.

Jamison, one of the largest office landlords in Southern California, bought the building at 600 S. Commonwealth Ave. from a family trust managed by Comerica Bank.

The 19-story building overlooking Lafayette Park in the Westlake neighborhood was completed in 1971 to house the Los Angeles offices of CNA Financial Corp., a Chicago insurance firm. It features mirrored vacuum-sealed glass intended to softly reflect its surroundings, The Times reported when it opened.

It is now the Central Civil West courthouse of Los Angeles Superior Court and houses 12 courtrooms. Other tenants in the building include the Los Angeles County Department of Public Health, according to real estate data provider CoStar Group.

Jamison, led by investor David Y. Lee, owns numerous properties in Los Angeles and Orange counties. Many of them are on or near Wilshire Boulevard. The company sold Macy's Plaza in downtown Los Angeles for $241 million in June.

Real estate broker Richard Plummer of HFF represented Comerica Bank in the recently closed sale. He and Jamison declined to comment on the deal.

roger.vincent@latimes.com

Twitter: @rogervincent

Copyright © 2015, Los Angeles Times
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