October 4, 2016
CBRE Group, Inc. completed the sale of Chase Plaza, a 15-story office building in DTLA, for more than $50-million. The asset was acquired by the Lai family, an investor group that has operated in SoCal and Las Vegas since 1976.
The 105,000-square-foot, Class A office tower, located at the corner of 6th and Figueroa St.’s, is currently occupied by 14 tenants.
CBRE’s Phillip Sample, Brad Chelf, Chris Caras, and Michael Shustak represented both the buyer and the seller, an undisclosed partnership between a New York-based investment group and a local real estate company. CBRE also handled leasing for the property.
Sample says, “Demand for strategically located office buildings in Downtown LA is tremendous.” He also notes interest is coming from international money, including investors from Germany, China, Korea, and Canada.
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