Government/Media Center — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Los Angeles, CA 90012
  • Size: 13,900 SF
  • Year built: 1950

Description

Cushman & Wakefield of California, Inc. as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 216 S Spring Street, Los Angeles, CA 90012 (the — Property — ), a one-story, freestanding 13,900 square foot concrete building originally built in 1950. The Property includes a loading dock on Harlem Alley in the rear of the building.The Property is conveniently located in the Bunker Hill submarket of Downtown Los Angeles just north of the Grand Central Market. The Property is within walking distance to the Civic Center/Grand Park Metro Station. The Property is also right next to several notable Downtown Los Angeles parks, including Pershing Square and Grand Park.216 S. Spring also presents the unique opportunity to build 120 units that have been thoughtfully designed with the modern city dweller in mind. Located in close proximity to an abundance of amenities, public transit options and some of the most prominent employers in the City, this is a site that offers businesses and companies to own a uniquely sized property that can be easily retrofitted for a variety of uses.

Market Context

This office in Los Angeles, CA is listed for sale across 13,900 SF. The building dates to 1950. It has been on the market for 238 days. Compare it against other office listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles office market showed a 14.7% vacancy rate, average asking rents near $35.40/SF/yr, rents up 0.7% year over year, and cap rates around 5.8%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

What is the typical cap rate for office in Greater Los Angeles?
About 5.8% as of Q1 2026, per multiple brokerage reports.
Is the Greater Los Angeles office market tightening or softening?
Vacancy is around 14.7%, with asking rents rising year over year (Q1 2026).

Estimated Market Rate

$310.59/SF – $420.21/SF

Mid: $365.40/SF

Estimated total for 13,900 SF: $5,079,060 per year

Rate estimator only; cost-of-business estimate unavailable.

Explore this market

Similar Office for Sale in Los Angeles, CA