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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 being sold separately. No asking price has been set for the office and retail offering, though a real estate expert cited in the report estimated its value at about $160 million. That estimate is not a listing price or a completed sale value.
What is for sale—and what is separate?
The current offering covers The Bloc’s office and retail portion, not the entire complex. Cushman & Wakefield broker Mike Condon Jr. told the Los Angeles Times, in reporting republished by AOL in 2026, that the hotel would be sold separately.
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| Asset | Sale arrangement | Price disclosed in the report |
|---|---|---|
| Office and retail portion, 1.2 million square feet | Marketed as the current offering | No asking price set; an unnamed real estate expert estimated about $160 million, as reported by the Los Angeles Times and republished by AOL in 2026. |
| Sheraton Grand hotel, nearly 500 rooms | To be sold separately | No price stated in the Los Angeles Times report republished by AOL in 2026. |
The report does not specify what operating arrangements, redevelopment rights, or other terms would accompany either sale. The $160 million figure is an expert’s reported estimate, not an official asking price.
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The Bloc occupies the site at 7th and Flower streets in downtown Los Angeles. Historical reporting describes a direct connection to the 7th Street/Metro Center transit station. The complex brings together office space, a hotel, a commercial podium, and parking.
Its earlier identity was Macy’s Plaza. Ratkovich Co. redeveloped the enclosed mall into an outdoor retail and mixed-use complex. National Real Estate Advisors became the principal owner after Ratkovich sold its interest to the financial partner in 2018. At the time, National president Jeff Kanne described the handover this way: “We bought Wayne out because construction is basically complete,” according to the Los Angeles Times’ 2018 report.
The same historical report said the redevelopment’s original $180-million budget grew to more than $250 million after unexpected construction issues. Those are past project-cost figures, not estimates of current value or investment performance.
A residential tower has been proposed for the site
A California environmental notice describes the existing property as a 26-story hotel, a 33-story office building, and a nine-story podium with commercial uses and parking. The notice outlines a proposed project that would add a residential tower of up to 466 units.
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Why the distinction matters to a prospective buyer
The office and retail offering and the hotel are separate sale components, so the reported estimate for one should not be read as a valuation of the whole complex. The sale report does not give a formal asking price for the office and retail portion or a price for the hotel. Nor does the environmental notice, by itself, establish which proposed project elements would be approved, built, or included in a sale.
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