800 Wilshire Scooped Up by Onni for $80M

Vancouver investor Onni Group has reportedly purchased 800 Wilshire Blvd. for $79.5 million from Lincoln Property Co.

800 Wilshire is a 220,770-square-foot office tower in downtown Los Angeles, just two blocks from 600 Wilshire, which Onni purchased last year for $78 million.

Lincoln bought the building in May 2013 for $48.2 million. It then turned 800 Wilshire into a creative-office facility, and put restaurant 800 Degrees Pizza on the bottom floor. It was 60-percent leased at the time of Lincoln’s purchase, and that number has now increased to 95 percent. Tenants in the tower include FedEx, shared-office provider Cross Campus, and law firm Kegel Tobin & Truce.

Marc Renard of Cushman & Wakefield represented Lincoln in the deal, while Onni represented itself.