Newmark and Colliers arranged the sale of 601 S. Figueroa St. — also known as 601 Fig or Fig at Wilshire — a 1,041,315-square-foot high-rise office tower in Downtown Los Angeles. The asset sold for $210 million, approximately $202 per square foot, for what Colliers said is the largest commercial sale in LA since January 2024.

A Newmark team of 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.

Vice chair Sean Fulp, EVP Mark Schuessler, and associate VP Jordan Garcia of Colliers’ office capital markets practice led the acquisition as exclusive advisors to the buyer, Uncommon Developers. Vice chair Matthew Heyn and EVP 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.”

On June 18, join industry-leading experts when they explore the most important topics in today’s CRE markets. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. The 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown.