LOS ANGELES-A private investment group has paid an estimated $5 million for the Pacific Southwest Building, one of Downtown’s oldest office towers.

The 12-story building, built in 1910, stands at 215 W. Sixth St. It was purchased by California-based Albion Pacific.

The 200,000-sf, class B tower was sold by LA-based Security Bank Building Partnership. It is more than 90% leased to a number of tenants, including the LA Community Development Department.

Though the building was recently upgraded by the seller, Albion Pacific plans to make additional changes to its façade and ground-floor retail space, says Ed Rosenthal, the local Grubb & Ellis broker who represented both parties in the transaction.

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