Kennedy Wilson Brokerage Group represented U.S. Bank National Association in the disposition of the leasehold interest in Figueroa Courtyard, a five-building, 270,169-square-foot office park in Downtown Los Angeles (DTLA). Figueroa Courtyard was marketed by the Kennedy Wilson team as a rare opportunity to acquire a multi-building property in DTLA and reposition the asset to attract creative office users.
Figueroa Courtyard Story
Rising Realty Partners purchased the property in January 2015 for its significant development and repositioning potential as the only low-rise office park in DTLA. The firm plans to reposition the property as a creative office campus to better meet the evolving needs of the area’s tenants.
Built in 1979, the campus is located at 201-281South Figueroa St. near Bunker Hill and the Financial District in Downtown Los Angeles. At the time of the sale, the property was 72 percent leased with national and regional tenants such as U.S. Bank, OneLegacy, Associated Press, StubHub, UCLA Extension, California Community Foundation and American Public Media.