Kennedy Wilson Brokerage represented U.S. Bank National Association in the disposition of the leasehold interest in Figueroa Courtyard, a five-building, 270,169-square-foot office park in Downtown Los Angeles (DTLA). Built in 1979, the campus is located at 201-281 S. Figueroa St. near Bunker Hill and the Financial District.
Strategy & Results
At the time of the sale, the property was 72 percent leased with national and regional tenants such as U.S. Bank, OneLegacy, Associated Press, StubHub, UCLA Extension, California Community Foundation and American Public Media. Figueroa Courtyard was marketed and sold by the Kennedy Wilson Brokerage team as a rare opportunity to acquire a multi-building property in DTLA and reposition the asset to attract creative office users. Rising Realty Partners purchased the property for its significant development and repositioning potential as the only low-rise office park in DTLA. The firm repositioned the property as a creative office campus to better meet the evolving needs of the market’s tenants.