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Report: Lionstone Investments selling LA building for $141M

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Report: Lionstone Investments selling LA building for $141M

Real estate investor Lionstone Investments is poised to sell the CalEdison building at 601 W. Fifth St. in downtown Los Angeles to New York-based GreenOak Real Estate for about $141 million, the Commercial Observer reported.

The roughly 285,000-square-foot, 14-story building is believed to be part of a portfolio deal and will sell for nearly $495 per square foot, the news outlet added, citing a source familiar with the potential transaction.

The property previously changed hands for $92 million in 2015.