LOS ANGELES — RC Acquisitions has purchased National City Tower, a historic adaptive reuse development in Downtown Los Angeles, for $43.2 million. The 118,162-square-foot property is located at 810 South Spring Street in the Financial District.
National City Tower was built in 1924 and redeveloped in 2008. It formerly served as a National City Bank branch.
The property now contains 93 residential lofts, in addition to ground-floor and basement retail space. The retail portion was fully occupied by tenants like Terroni restaurant, Peking Tavern and Crane’s Downtown Bar. The residential component is 97 percent occupied.
Janet Neman and Bryan Glenn of Charles Dunn Company represented both the buyer and seller, National City Towers LLC, in this transaction.