We're not going to call it a fire sale, because there haven't been too many large office trades in Los Angeles this year, but the year is closing with some bargain benchmarks.
Last week, Carolwood closed on a deal to buy the Aon center in Downtown Los Angeles for $147.8M. The deal, which translates to $134 per SF, one of the lowest per SF prices in DTLA in the past 10 years.
The 1.1M SF tower at 707 Wilshire Boulevard sold for a 45% discount compared to the $268.5M the seller, Shorenstein Partners, paid for it in 2014. Shorenstein had put the Aon Center on the market in January with an asking price of $220M, or about $200 per SF.
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