Kevin Shannon Kevin Shannon is the president of West Coast capital markets at Newmark Knight Frank.

The high office vacancy rate in Downtown Los Angeles isn’t deterring investment capital from scooping new opportunities. Lincoln Property Co. has sold its trophy asset the Wedbush Center at 1000 Wilshire for $196 million to Cerberus Real Estate Capital Management. The property is a 476,491-square-foot, 21-story office building in downtown Los Angeles that has recently undergone a $4 million renovation focused on the ground floor lobby, and has seen $27 million in renovation and upgrades since 2000.