Aon Center Trades for $270M

LOS ANGELES—San Francisco investment firm Shorenstein has entered into an agreement to purchase the Aon Center for $270 million from Beacon Capital Partners. Located at 707 Wilshire Blvd. in Downtown Los Angeles, the property is a 1.1-million-square-foot, 62-story office building and one of the skyscrapers in the L.A. skyline.

Beacon Capital Partners purchased the property in October 2007 for $327 million and invested an additional $14 million in renovations, according to industry sources unrelated to the deal. Eastdil Secured represented the seller in the transaction, and had been marketing the property since May of this year.