Newmark Group has arranged the sale of 601 South Figueroa Street — also known as 601 Fig or Fig at Wilshire — a 1.04 million-square-foot high-rise office tower in downtown Los Angeles. The asset sold for $210 million, equating to a price of approximately $202 per square foot.
The seller was undisclosed.
“601 Fig is one of L.A.’s truly iconic office buildings at the renowned corner of Wilshire Boulevard and Figueroa,” said Kevin Shannon, Newmark co-head of U.S. capital markets. “This investment sale will provide long-term upside for yet another patient and well-capitalized family office buyer.”
“Since its completion in 1990, 601 Fig has always had ‘power business card’ status in the city,” added Rob Hannan, Newmark vice chairman. “Standing in its majestic 75-foot lobby, you get the sense that you are in a special place, a place where a big deal is about to be made. Uncommon Developers will continue 601 Fig’s reputation as one of L.A.’s
