The Bloc Office and Retail Come Up for Sale in DTLA

Cushman & Wakefield is marketing for sale the office and retail components of The Bloc, a 1.4-million-square-foot mixed-use complex in Downtown Los Angeles. The offering includes 730,000 square feet of office, 420,000 square feet of retail and a nearly 2,000-stall parking structure.

Executive vice chairman Mike Condon and vice chairman Kevin Donner are overseeing the sale. The complex’s hotel component is being marketed by another firm and is not included in the Cushman & Wakefield offering.

The sale arrives during a new period of price discovery for downtown office real estate, according to Cushman & Wakefield. “Now that sales transactions are once again becoming the norm in Downtown LA and closed sales are establishing clear price points, buyers can finally underwrite against defensible and quantifiable market evidence,” said Condon.

More than $100 million has been invested in property-level improvements in recent years. Although a sale price has not been set, the Los Angeles Times reported that The Bloc’s office and retail portion is believed to be worth about $160 million.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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