Downtown Office Tower Sold for $210 Million

Uncommon Developers acquired the 1 million-square-foot office tower located at 601 S. Figueroa St. from Brookfield Properties for $210 million, or $ 210 per square foot. The buyer was represented by Colliers in the off-market transaction. Colliers was subsequently awarded the exclusive leasing and property management for the 52-story tower.

“Our partnership with the Colliers team allowed us to source, structure and execute this transaction. Their expertise and guidance were instrumental in effectuating this monumental acquisition, and we are thrilled with the outcome,” said Ryan Hekmat, managing partner of Uncommon Developers, in a statement.

It is the largest commercial sale in Los Angeles County since January 2024, according to Colliers. The deal included a structure with a deed-in-lieu and seller financing to align all parties.

Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the seller.

Information for this article was sourced from Colliers.