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Office Investors Join Downtown Renaissance

LOS ANGELES—The downtown renaissance continues with Sharp Capital's acquisition of a 92,000-square-foot office building it plans to renovate with updates to the common spaces.

By Kelsi Maree Borland | Updated on January 07, 2015

LOS ANGELES—Sharp Capital has purchased a 92,000-square-foot office and retail building in Downtown Los Angeles with plans to renovate the common spaces. Located at 1200 Wilshire Blvd., the property is occupied by Wells Fargo Bank, Modern Parking and Amanecer Community Counseling Services.

“The acquisition of 1200 Wilshire fit our acquisition criteria to move into rapidly and ever-changing neighborhoods such as Central City West,” David J. Shophet, a principal at Sharp Capital, tells GlobeSt.com. “With the addition of Plan Check Restaurant and Bar across the street, over 1,000 new multifamily units under development in the immediate vicinity, and an $80-million expansion by Good Samaritan Hospital, we feel as if the building is well position to capitalize on the activity in the vicinity as well as the rest of Downtown Los Angeles.”   

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