Buck Design, a creative agency, has purchased an office building in Little Tokyo for $26.5 million. The company will move into the property after some renovations are completed.

Beverly Hills-based Brickstar Capital was the seller of the 79,242-square-foot building at 120 South San Pedro St.
CBRE Group Inc.’s Taylor Watson, Brad Chelf, Phillip Sample, Chris Caras, Michael Shustak and Ryan Phillips represented the seller in this transaction.

Lee & Associates’s Jack Cline, Doug Cline and Evan Jurgensen represented the buyer.
“CBRE was pleased to present Brickstar with an opportunity to do what they do best — reposition a prime, value-add property and transform the area with a generational tenant who will bring new life to the Little Tokyo neighborhood of downtown,” Watson said in a statement. “Buck’s investment affirms downtown as a viable choice for Los Angeles creative and media agencies.”

Brickstar had purchased the property, which was built in 1985, in 2017 and turned it into a creative office campus in 2020. The renovations to the property included spec creative office space, patio space, a gym, and an upgraded lobby and restrooms. The changes were made with the aim to attract design, tech, fashion and media companies, according to CBRE.

The property also has ground-level retail and underground parking. Union Bank holds a lease on the ground floor.
“This transaction is just one of many in which larger tenants have decided to relocate to downtown Los Angeles this year in order to take advantage of unique, move-in-ready creative office space,” Sample said in a statement. “We are encouraged by a variety of new leases by the likes of Revolve Clothing, Twitch, Greycroft, Johnny Was, Bambee HR and Adidas.”