LOS ANGELES-Beacon Capital partners has acquired the 472,000-sf 1000 Wilshire office building, one of the most recognizable buildings Downtown, from Sumitomo Life Realty. Terms of the sale were not disclosed, but the property is believed to have traded for approximately $115 million.

Built in 1987 as the national headquarters for Coast Savings Bank, the post-modern style 1000 Wilshire building immediately became one of the most distinctive properties Downtown, both because of its design and because of its location at Wilshire Boulevard overlooking the Harbor Freeway, with its curved black and gray granite facade opening out to the freeway below. The building rests on a granite podium, which forms a pedestrian plaza at street level.

The 21-story class A office tower features outdoor plazas and a parking garage that accommodates 585 vehicles. The building is 82% leased, with major tenants including Wedbush Morgan Securities Inc., which occupies 113,000 sf. Law firm Buchalter, Nemer, Fields & Younger is scheduled to relocate to 1000 Wilshire in August 2005 after having signed a 15-year, 83,000-sf lease earlier this year.

Beacon represented itself, with the seller represented by David Hasbrouck, Richard Plummer, Anthony Gatti and Andrew Harper of Cushman & Wakefield.

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