Transactions - AUGUST 25, 2014

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Shorenstein to buy Aon Center for $270m

by Andrea Waitrovich

Shorenstein Properties is under contract to purchase the Aon Center, a 1.1 million-square-foot office property located on Wilshire Boulevard in Los Angeles. The sales price is approximately $270 million, or $246 per square foot. The seller was Beacon Capital Partners, which acquired the asset in 2007 for $327 million.

The 62-story class A office tower is 54 percent occupied. Major tenants include Wells Fargo, AON Insurance, Morrison & Foerster and State Bank of India.

Aon Center was completed in 1973. The rectangular black building is the second tallest building in Los Angeles, the second tallest in California and the 31st tallest in the United States.


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