The latest office building sale in downtown Los Angeles is a bright spot in one of the country’s hardest-hit commercial real estate markets in the post-pandemic years. L.A. Metro bought the 106,004-square-foot office building at 500 South Santa Fe Avenue in the Arts District for $45 million, CoStar reported. The county’s transit agency acquired the property in an off-market deal from development firm SteelWave. At about $450 per square foot, the sale dwarfs the downtown office average of $240 per square foot and the $342 per square foot average in Greater Los Angeles. Cushman & Wakefield’s Michael Condon Jr., Pete […]
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