Cushman & Wakefield Announces the Sale of 612 S. Broadway

Cushman & Wakefield announced the sale of 612 S. Broadway, a six-story, 80,000-square-foot creative office building in the downtown Los Angeles historic core neighborhood. The building was acquired for $16 million, or $200 per square foot, by a family office that plans to occupy the building. The sale was brokered by Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn and Kylie Rawn of Cushman & Wakefield in partnership with Mark Zakarian.

“The sale of 612 S. Broadway is not an isolated success. It highlights a broader trend of recovery and renewed interest in Downtown L.A. Notably, UCLA’s recent acquisition of 433 S. Spring further demonstrates this resurgence, with significant investments reflecting confidence in the market’s future,” said Mike Condon Jr., vice chairman at Cushman & Wakefield.

The historic building was redeveloped in 2020 with Skechers occupying ground-floor retail space and a coworking company occupying most of the remainder of the building. It was originally built in 1924 as Desmond’s Department Store.