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Cerberus Claims DTLA Trophy Tower for $200M
Wedbush Center at 1000 Wilshire, a 476,491-square-foot trophy office building in Downtown Los Angeles, has sold for $196 million. New York-based Cerberus Real Estate Capital Management acquired the 21-story, Class A asset from Lincoln Property Company.
The 86%-leased building prominently sits along the 110 Freeway, and is highly visible to 300,000 vehicles daily. The property recently benefited from a $4-million renovation focused on repositioning the ground floor lobby areas, including the addition of a full-service bar and café restaurant, which has helped to further reshape the building while adding a new amenity.
NKF Capital Markets’ Kevin Shannon, Rob Hannan, Laura Stumm, Michael Moll and Ken White represented the seller. NKF Capital Markets’ David Milestone and Brett Green procured new financing on behalf of the buyer.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


