LOS ANGELES — Lincoln Property Company has purchased a 22-story office tower in Downtown Los Angeles that it had previously sold in 2007. The latest purchase price was not disclosed.
The Class A asset is located at 915 Wilshire Blvd. It is situated across the street from the 73-story Wilshire Grand Center.
Lincoln plans to renovate 915 Wilshire by updating the ground-floor lobby and valet area. It will also redesign the outdoor patio space, as well as replace elevators and dated building systems.
Though the firm previously sold the 390,312-square-foot property to Brickman Associates, it stayed on as the tower’s property manager and leasing agent.
The tower was built in 1980. It is currently 88 percent leased. Kevin Shannon of Newmark Grubb Knight Frank executed the deal.