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, equating to 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 Vice President 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.”
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