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Following the successful acquisition, the firm has been awarded the exclusive leasing and property management assignments for the +1M SF asset.
“Our partnership with the Colliers team allowed us to source, structure, and execute this transaction. Their expertise and guidance were instrumental in effectuating this monumental acquisition, and we are thrilled with the outcome,” said Ryan Hekmat, Managing Partner of Uncommon Developers.
Vice Chair Sean Fulp, Executive Vice President Mark Schuessler, and Associate Vice President Jordan Garcia of Colliers’ office capital markets practice led the acquisition as exclusive advisors to the Buyer. Vice Chair Matthew Heyn and Executive Vice President Ian M. Gilbert of the firm’s Integrated Advisory Services Team will lead leasing efforts. Real Estate Management Services’ Kevin Rude, Regional Managing Director, West Coast, and Tina Minook, Regional Managing Director, California, will lead full-service property management.
“This transaction demonstrates the strength of our relationships, our insight into repositioning marquee assets, and our team’s commitment to leading the next chapter of office investment across Los Angeles and the West Coast,” said Sean Fulp.
“This is a landmark sale for Downtown L.A. that highlights our team’s ability to creatively structure deals and source the most aggressive capital on the largest office assets across the Western Region,” said Mark Schuessler.
“This complex transaction involved multiple stakeholders and required our deep market knowledge, relationships, and a structure with a deed-in-lieu and seller financing to align all parties,” said Jordan Garcia.
Built in 1990 at the high-profile intersection of Figueroa and Wilshire Blvd., the 52-story tower stands as a prominent landmark in the heart of Downtown Los Angeles. Its locale offers walkability to ample dining and retail destinations, immediate access to the 110 Freeway, and access to the most robust public transportation hub in Los Angeles County. Select property features include dual open-air lobbies, a tenant lounge, a state-of-the-art fitness center, 50 electric vehicle stalls, executive valet parking, and more.
"The sale and awarding of leasing and management for such a high-profile office tower is yet another testament to the collaboration and integration of our advisory services of capital markets, leasing, and property management,” said Ricardo Pacheco, Managing Director, Los Angeles & Santa Barbara.
Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, and Michael Moll represented the seller.
"The sale and awarding of leasing and management for such a high-profile office tower is yet another testament to the collaboration and integration of our advisory services of capital markets, leasing, and property management,” said Ricardo Pacheco, Managing Director, Los Angeles & Santa Barbara.
Related Insight(s)
Colliers Brokers +733k SF Tech Park Sale in Goleta, CA
Southern California, March 19, 2026 – Colliers is pleased to announce the recapitalization sale of the Tech Park @ Goleta Portfolio, a landmark Class A, 17-building technology campus comprised of five business parks spanning 733,497 SF in the Central Coast city of Goleta, California. The transaction marks one of the most notable trades in a market defined by limited supply and muted transaction activity. The portfolio was acquired for an undisclosed figure through a recapitalization that included Majestic Asset Management, Praelium, Blackbird Investment Group, and H.I.G. Capital, introducing new institutional capital and strategic oversight and positioning the campus for continued growth and long-term value creation. The seller, David Fradin, Head of Majestic Asset Management, has spent years thoughtfully preparing the portfolio for this next phase of ownership, adding value through leasing, tenant buildouts, branding, and targeted upgrades across the five campuses. Majestic is currently identifying potential industrial opportunities throughout the Western U.S. to purchase for its exchange. The acquisition meaningfully enhances the partners’ strategic positioning within one of Southern California’s most sought-after and supply-constrained markets. “Goleta’s combination of entrenched technology and aerospace tenants, limited new supply, and strong institutional ownership continues to support long-term investor conviction in the market,” said Sean Fulp, Vice Chair at Colliers and lead broker on the transaction. “We continue to see sophisticated capital prioritize high-quality R&D and industrial assets in Goleta given the market’s durable fundamentals and long-term growth trajectory.” Alongside Fulp, the Colliers team of Vice Chair Michael Kendall, Executive Vice Presidents Mark Schuessler and Gian Bruno, Senior Vice President Kenny Patricia, and Associate Vice President Blake Hammerstein partnered with local market experts Francois DeJohn and Caitlin Hensel, Partners at Hayes Commercial Group, in exclusively marketing the portfolio and facilitating the deal on behalf of all parties. CBRE Executive Vice Presidents Brad Zampa and Mike Walker provided debt and structured finance advisory. The transaction further reflects the momentum behind Colliers’ expansion into the Central Coast. Following the firm’s Santa Barbara office opening last year, the local platform is poised to capture growing investor and occupier demand and support future opportunities throughout the region. Designed to support a broad range of uses, including office, flex, laboratory, and industrial, the portfolio offers a dynamic environment tailored to innovation-driven tenants. Approximately 85% of the portfolio is dedicated to industrial and R&D space, aligning with strong demand from advanced manufacturing, aerospace, defense, medical device, and emerging technology users. Located along California’s Central Coast and in close proximity to the University of California, Santa Barbara, Goleta has emerged as a hotbed for technology, aerospace, defense, and medical device companies. The region benefits from a strong research ecosystem, a highly educated workforce, and a collaborative business environment that fosters commercialization and growth. The city is home to major global and national corporations, including Google, Microsoft, Yardi, Lockheed Martin, Raytheon, and Sonos. In recent years, the market has also seen accelerating momentum from quantum computing and artificial intelligence companies, further diversifying and strengthening the local economy. For additional information, please contact: Leanne Daly Manager, PR & Communications U.S. West Region Leanne.Daly@colliers.com 760-930-7941
Colliers Facilitates $210 Million Receivership Sale of Bank of America Plaza
Los Angeles, Calif., June 16, 2026 – Colliers announced today the sale of 333 S. Hope Street (Bank of America Plaza) in Downtown Los Angeles. The landmark 1.4 million-square-foot asset traded through a receivership sale, with fee-simple title delivered at closing. The asset traded for $210 million, making it the largest office sale in Los Angeles in 2026. The sale reflects continued recalibration in office pricing and growing investor focus on long-term value in premier assets. Vice Chair Sean Fulp, Executive Vice Presidents Mark Schuessler and Todd Tydlaska, and Associate Vice Presidents Jordan Garcia and Blake Hammerstein of Colliers’ investment sales team exclusively marketed the property and facilitated the transaction on behalf of the court-appointed receiver, Chris Nielsen, Managing Partner and Co-Head of Trigild. The buyer, Capital Group, was represented by Kevin Bender and Andrew Harper of JLL. “The sale is a meaningful step forward in the evolution of Downtown Los Angeles and another benchmark transaction for our team, said Mark Schuessler. We generated interest from both private and institutional investors, as well as foreign capital, and ultimately a partial user. In conjunction with the receiver and special servicer, we were able to deliver pricing and deal terms that exceeded expectations, without a need for seller-financing.” Sean Fulp added, “Executing a transaction on this scale requires thoughtful strategy and intimate knowledge of the stakeholders. Bank of America Plaza is one of the largest and most recognizable office towers in Los Angeles, and the level of interest we received underscores the depth of capital pursuing premier office assets with a story.” The 57-story, Class A, high-rise is a prominent fixture in the Los Angeles skyline, offering premier office space, panoramic city views, and a central location within the city’s Financial District. As a defining component of the downtown core, the property combines scale, design, and functionality, with best-in-class amenities and a strong presence within one of the West Coast’s most important business hubs. Capital Group plans to consolidate its Los Angeles operations into the building and significantly invest in the asset to bring it to a best-in-class standard. Eventually, they expect that it will be home to more than 2,100 employees. “Investors and users are increasingly looking beyond short-term market volatility and focusing on assets that offer scale, quality, and strategic positioning,” said Todd Tydlaska. “Capital Group’s long-term investment should send a strong message to the broader market about downtown's future.” “Executing assignments of this magnitude showcases the differentiated capabilities of our team and platform,” said Ricado Pacheco, Senior Managing Director | Los Angeles & Santa Barbara. “It reinforces our position as leading capital markets advisors in Los Angeles and our ability to deliver on the market’s most significant opportunities.”