Commercial real estate advisor and service provider Newmark Group, Inc. recently announced that it had arranged the sale of the office tower at 601 S. Figueroa St. in downtown Los Angeles.
Also known as 601 Fig or Fig at Wilshire, the tower incorporates more than 1 million square feet of LEED Gold-certified, class A+ Los Angeles office space and commanded $210 million — more than $200 per square foot — in the recent sale. According to Colliers representatives, this was the largest office deal to close in the Los Angeles market since the start of 2024.
A Newmark team of Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, Michael Moll, Alex Beaton, and Alex Foshay worked on behalf of the seller, while Mark Schuessler, Jordon Garcia, and Sean Fulp of Colliers represented the buyer, Uncommon Developers.
Featuring a distinctive octagonal design and glass crown, the building rises more than 50 stories above the intersection of Figueroa Street and Wilshire Boulevard and has been an icon of the LA skyline since 1990.
The property was reportedly more than 70% leased at the time of sale, with tenants spanning a diverse range of industries. It’s anchored by professional services firm PricewaterhouseCoopers.
“Since its completion in 1990, 601 Fig has always had ‘power business card’ status in the city,” said Hannan. “Standing in its majestic, 75-foot lobby, you get the sense that you are in a special place, a place where a big deal is about to be made. Uncommon Developers will continue 601 Fig’s reputation as one of LA’s premier corporate environments.”
“601 Fig is one of LA’s truly iconic office buildings at the renowned corner of Wilshire Boulevard and Figueroa,” added Shannon. “This investment sale will provide long-term upside for yet another patient and well-capitalized family office buyer.”
Los Angeles kicked off the year as one of the best-performing office markets in Q1 2025. In fact, office space here recorded one of the lowest vacancy rates in Q1, in addition to claiming one of the 10 largest year-over-year increases in asking rent.
The DTLA skyline staple at 601 Figueroa incorporates more than 1 million square feet of Los Angeles office space. Property image courtesy of CommercialEdge.com.
