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Frederick (Frederick, Maryland)
With sale of Two California Plaza, Bunker Hill is poised for comeback
With sale of Two California Plaza, Bunker Hill is poised for comeback

One of the tallest office buildings in downtown Los Angeles has been acquired by a major Hollywood real estate investor, CIM Group, in an unusual portfolio sale that included a regional shopping center in Montclair, a high-rise in Anaheim and a hotel in Bakersfield. The crown jewel of the seven properties acquired by CIM Group is Two California Plaza, a prestigious but troubled skyscraper on Bunker Hill where gleaming office towers erected during the last building boom decades ago are having a tough time attracting tenants. In recent years, the center of gravity for downtown development has shifted a few blocks south, where new housing, bars and restaurants have transformed the financial...

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