The Bloc’s 1.2-million-square-foot office and retail portion is being marketed for sale by National Real Estate Advisors. Its nearly 500-room Sheraton Grand hotel is a separate offering. No asking price has been set for the office and retail portion; a real estate expert cited in the current report estimated its value at about $160 million, which is not a listed price or completed-sale value.
What is being offered for sale?
The current listing covers The Bloc’s office and retail portion, not the entire complex. Los Angeles Times reporting republished by AOL in 2026 describes that portion as 1.2 million square feet. The Sheraton Grand, with nearly 500 rooms, is being sold separately, according to broker Mike Condon Jr. of Cushman & Wakefield. The report does not state a price for either offering.
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| Offering | What it includes | Price information in the 2026 report |
|---|---|---|
| Office and retail portion | 1.2 million square feet of office and retail space | No asking price set. An unnamed real estate expert estimated about $160 million; this is an estimate, not an asking price. |
| Sheraton Grand hotel | Nearly 500 rooms | Being sold separately; no price stated in the report. |
The available report does not specify the operating or redevelopment rights attached to either offering, so it does not establish what a buyer would be permitted to change.
Where is The Bloc, and what makes the site distinctive?
The Bloc sits at 7th and Flower streets in downtown Los Angeles. Historical Los Angeles Times coverage describes a direct connection from the complex to the 7th Street/Metro Center transit station. The site brings together an office tower, hotel, commercial podium and parking.
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Its earlier identity was Macy’s Plaza. Ratkovich Co. redeveloped the enclosed mall into an outdoor retail and mixed-use complex. In 2018, Ratkovich sold its interest to financial partner National Real Estate Advisors, which became the principal owner. At the time, National president Jeff Kanne described the handover by saying, “We bought Wayne out because construction is basically complete.”
The Times also reported that the redevelopment’s original $180 million budget grew to more than $250 million after unexpected construction issues. Those are historical project-cost figures, not a current valuation or evidence of investment performance.
What redevelopment has been proposed?
A California environmental project notice describes a proposed residential tower of up to 466 units at the site. It also lists changes to parking and commercial uses. The notice describes a proposal; it does not establish that construction has started.
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- The existing complex is described as a 26-story hotel, a 33-story office building and a nine-story podium with commercial uses and parking.
- The proposal would enclose an existing rooftop parking level and add two above-ground parking levels.
- It would remove 24,342 square feet of theater and retail uses to make room for the residential tower.
The environmental notice’s proposed changes are separate from the sale terms reported for the office and retail portion. The available materials do not say whether or how the proposed project would be carried out by a future buyer.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Does “landmark” mean The Bloc is a designated historic landmark?
Not on the evidence available here. “Landmark” in the headline describes The Bloc’s prominence and history in downtown Los Angeles; the cited reporting and environmental notice do not establish a formal historic designation.
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