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Three Buildings Go For $550M

LOS ANGELES-Hines REIT sells three high-profile office buildings for $550 million. The trio are are fully-leased to major tenants.

By Bruce Haring | Updated on July 17, 2013

LOS ANGELES-Three prominent office buildings have been sold by Hines Real Estate Investment Trust Inc. to GI TC One Wilshire LLC for a total price of $550 million.

The properties include One Wilshire, a 30-story, class-A office building located in downtown L.A. that contains 663,000 square feet of telecom, retail and office space. The building was acquired by Hines REIT in 2007. The property is 93% leased to such companies as Verizon Communications, CRS West, Quest Communications, CoreSite, Crowell Weedon and Musick Peeler.

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