Brookfield is listing another Downtown property, but this time, it's a well-occupied retail center instead of a distressed office building.

JLL is marketing Brookfield's FIGat7th, according to The Real Deal, which viewed an offering memorandum for the property.

The 330K SF shopping center at 735 S. Figueroa St. boasts higher occupancy than some of the office towers Brookfield has jettisoned in the last few years. The outdoor retail center counts Target, Sephora and Zara as anchor tenants. It is nearly 86% occupied.

Brookfield previously fought to hold on to the property. In 2023, it secured a three-year extension on the $58.5M outstanding on a loan MetLife originated in 2018. The exact maturity date is unknown, but the extension would put maturity in or around the first quarter of 2026.

While the memorandum didn't mention a price, TRD cited sources estimating that the property could sell for $70M, or about $210 per SF, a bargain compared to recent retail sales in other submarkets.

Runway Playa Vista's retail segment sold for about $915 per SF earlier this year, and One Westside in Sawtelle sold for $711 per SF. Those properties are in affluent Westside neighborhoods. Downtown, on the other hand, has suffered a hit to its reputation that has affected offices as well as multifamily.

Brookfield has a handful of office towers on the market in Downtown, including Bank of America Plaza, the Wells Fargo Center towers and EY Plaza. These three properties have roughly $1B of debt in default between them.

Brookfield is also seeking to offload another retail property in Downtown. Halo, the retail property Brookfield owns at Wells Fargo Center’s North Tower, is part of Eastdil Secured’s marketing of the mortgage loan connected to that property.