LOS ANGELES-The Bristol Group Inc. of San Francisco has sold its 32-story, 618,000-sf office building at 1055 W. Seventh St. in Downtown L.A. to Jamison Properties for approximately $184 million. The class A office tower, which was built in 1988 and was designed by Gin Wong Associates, was approximately 75% leased at the time of the sale.

Jeff Kott, a principal at Bristol, tells GlobeSt.com that the firm had owned the 1055 W. Seventh St. building since 1991 and that the property is one of a number of assets that the company has sold in the past year or so as it disposes of some properties and reinvests the proceeds into others. In a deal last year, for example, the Bristol Group sold about 4.7 million sf of industrial space in Southern California, part of more than seven million sf of real estate nationwide that the San Francisco-based firm has sold in the past 18 months.

The Bristol Group’s remaining portfolio consists of more than nine million sf of commercial properties with an additional two million sf in the development pipeline. In the sale of the 1055 W. Seventh St. building, the company was represented by Kevin Shannon, Tom Bohlinger, Todd Doney and Todd Tydlaska of CB Richard Ellis.

The largest tenant at the Seventh Street building is the Los Angeles Unified School District, which occupies 117,054 sf in a 10-year deal that the school district signed in 2005. The new acquisition represents a value-added play for Jamison, which owns 22 million sf of commercial office space in Los Angeles and is one of the largest owners of office space in Southern California.

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