LOS ANGELES — Uncommon Developers has acquired 601 S. Figueroa Street, an office tower in downtown Los Angeles, for $210 million, or $201 per square foot. Built in 1990, the 52-story, 1 million-square-foot property features dual open-air lobbies, a tenant lounge, fitness center, 50 electric vehicle stalls and executive valet.
Sean Fulp, Mark Schuessler and Jordan Garcia of Colliers represented the buyer, while Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the undisclosed seller in the deal. Uncommon Developers has tapped Colliers to handle leasing and property management of the asset. Matthew Heyn and Ian Gilbert of Colliers will lead leasing efforts, while Kevin Rude and Tina Minook of Colliers will lead full-service property management for the building.