National City Tower Comes to Market

LOS ANGELES—National City Tower LLC has decided to sell the 118,162-square-foot National City Tower building in Downtown Los Angeles. The owner has asked Charles Dunn to list the property on their behalf for $45 million with a 4.7% cap rate. The sale includes three new restaurant leases.

Charles Dunn brokers Janet Neman and Bryan Glenn will market the building. “National City Tower is a rare opportunity to own a landmark building in the heart of Downtown Los Angeles, an area that is experiencing a huge amount of growth and capital infusion,” Neman tells GlobeSt.com. “As the demand for stabilized product like this increases, this asset is poised to gain in value over the near and long-term.”