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6/05/25
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In a downtown Los Angeles office trade, Uncommon Developers has purchased 601 South Figueroa Street, a 1.04 msf high-rise, for $210 mil, or $202/sf, in an off-market deal. We’re told this is the largest commercial sale in Los Angeles County since January 2024.
Located at the intersection of Figueroa St and Wilshire Blvd, the 52-story building, also known as 601 Fig or Fig at Wilshire, features a distinctive octagonal design and glass crown, contributing to Downtown Los Angeles’ skyline. The property offers a range of amenities, including dual lobbies with a 75-foot atrium, a modern fitness center, a WiFi-enabled open-air plaza and onsite dining options, including a coffee shop and fast-casual restaurant.
At the time of sale, the building was 72% leased to tenants from diverse industries, with many representing strong national and regional credit profiles. Professional services firm PricewaterhouseCoopers (PwC) serves as the anchor tenant. The property’s prime location provides easy access to key Downtown Los Angeles destinations, including Crypto.com Arena, Microsoft Theater, LA Live, Fig at 7th and the 7th Street Metro station, a central rail hub.
Newmark Co-Head of U.S. Capital Markets Kevin Shannon and Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll and Director Alex Beaton represented the undisclosed seller. Newmark Executive Vice Chairman and Head of International Capital Markets Alex Foshay worked alongside the aforementioned Newmark team. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process.
Colliers Vice Chair Sean Fulp, Executive Vice President Mark Schuessler, and Associate Vice President Jordan Garcia of the firm’s office capital markets practice led the acquisition as exclusive advisors to the Buyer. Vice Chair Matthew Heyn and Executive Vice President Ian M. Gilbert of the firm’s Integrated Advisory Services Team will lead leasing efforts. Real Estate Management Services’ Kevin Rude, Regional Managing Director, West Coast, and Tina Minook, Regional Managing Director, California, will lead full-service property management.
“601 Fig is one of LA’s truly iconic office buildings at the renowned corner of Wilshire Boulevard and Figueroa,” said Shannon. "This investment sale will provide long term upside for yet another patient and well-capitalized family office buyer.”
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