The Trust Building in Downtown Los Angeles has been sold to UCLA for under $40 million, providing a glimmer of hope for the struggling office market. The historically designated building, located at 433 South Spring Street, spans approximately 300,000 square feet and was purchased at an approximate price of $133 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $40,000,000 (Approx.)
• Address: 433 South Spring Street, Los Angeles
• Market: Los Angeles

UCLA's acquisition of The Trust Building suggests a potential recovery for the area as an office hub. The building will be utilized for satellite classes, showcasing its adaptability to modern educational needs. The deal was facilitated by Mike Condon Jr. of Cushman & Wakefield, representing UCLA as the buyer. The seller, Rising Realty Partners and Lionstone Investments, successfully concluded the transaction, contributing to the revitalization of the Downtown Los Angeles office market.