Lincoln Property Company Expands Presence in Downtown Los Angeles with New Office Tower Acquisition Business Wire LOS ANGELES -- June 10, 2013 Lincoln Property Company has partnered with Angelo, Gordon & Co. to purchase 800 Wilshire, a 16-story office building at the corner of Wilshire Boulevard and Flower Street. The 220,757 square-foot tower in the Financial District was constructed in 1972 and most recently renovated in 2004. The building includes three levels of subterranean parking as well as ground-floor retail space that will soon feature a brand new restaurant. Over the next several months, Lincoln plans to update 800 Wilshire’s main lobby, with a focus on enhanced lighting and new finishes, among other improvements. Tenants at 800 Wilshire reflect a wide range of industries, including law practices, engineering firms, and construction companies. Moving forward, Lincoln will focus on attracting new tenants for the building’s particularly unique, available spaces on the 2^nd and 16^th floors, which feature high ceilings, open layouts and outdoor balconies offering sweeping views of the downtown skyline on the top penthouse level. “We are thrilled to invest in 800 Wilshire and to be playing a part of the renaissance taking place in Downtown Los Angeles,” said David Binswanger, Executive Vice President at Lincoln Property Company. “This building has a long history of institutional ownership and loyal tenancy, but we were particularly attracted to the unique character of 800 Wilshire’s currently vacant space, which we think will appeal to the growing contingent of creative and technology-driven tenants Downtown.” The acquisition comes on the heels of Lincoln’s recent purchase of The Desmond, a former department store warehouse that is being transformed into a creative office and retail space in downtown’s South Park District. 800 Wilshire is strategically located in the heart of Downtown’s financial core, in close proximity to Staples Center and L.A. Live, Bunker Hill, the new and continually expanding “restaurant row” on 7^th Street, and to new apartment developments in the historic core, South Park and City West. 800 Wilshire also has direct access to a robust transportation network including the Harbor and Santa Monica freeways, the Metro rail system and the Downtown Dash Bus. Once completed, the proposed Downtown Streetcar service will have a stop within a short walk of 800 Wilshire. “We believe this is the right time to be investing in Downtown Los Angeles, which is becoming an increasingly dynamic market,” said Rob Kane, Vice President at Lincoln Property Company. “800 Wilshire is uniquely positioned in the heart of the financial district, just blocks away from public transportation, new restaurants, retail, and entertainment venues, as well as a rapidly growing residential base.” Michael Zietsman and Patrick Inglis of Jones Lang LaSalle brokered the transaction. About Lincoln Property Company Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 100 million square feet of commercial space and over 185,000 multifamily residential units. Lincoln Property Company is one of the largest commercial real estate companies in the world. Visit www.lpcsocal.com for more information. Contact: for Lincoln Property Company Emily Heidt, (310) 974-6682
Lincoln Property Company Expands Presence in Downtown Los Angeles with New Office Tower Acquisition
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