LOS ANGELES—West Washington Properties has solda 12-story, 186,000-square-foot creative officebuilding to an unnamed private investor for $19 million. Located at155 W. Washington Blvd. in Downtown Los Angeles, the property is97% leased to a mix of more than 50 creative tenants.

“This is the seller's only asset in Downtown Los Angeles, andone of the few they have in L.A. County. He had other projects andnew buildings that he was acquiring that he wanted to move themoney to,” John Anthony, senior managing directorat Charles Dunn Co., tells GlobeSt.com. Anthonyrepresented the sellers in the transaction along with his CharlesDunn colleague Christopher Steck. EmilGolub of Fortune Investments representedthe buyer.

The sale attracted strong interest from private investors, whowere looking to use the property either as an office property or asa residential conversion project. “In the short term, the buyer isusing it as a straight office, but in the long term, it is keepingthe option open for residential conversion downthe road,” says Anthony. The sales team received approximately 12offers from private investors. This buyer was the second buyer toenter into escrow on the property. “The first buyer didn't perform,and the seller chose not to give them any extra time,” Anthonyexplains.