The Bloc is back on the market as downtown L.A.'s office market shows signs of bottoming out

The Bloc, a massive mixed-use complex in the heart of downtown Los Angeles, is on the block for sale as the commercial property market shows signs it is bottoming out with buildings changing hands at big discounts. The complex fills a city block in the financial district with an office skyscraper, the high-rise Sheraton Grand hotel and a shopping center that is home to a Uniqlo and Alamo Drafthouse Cinema.It is an unofficial downtown landmark that was considered chic when it opened as an indoor mall in the 1970s. For years, tourists flocked to the premier address at 7th and Flower streets.By 2013, then-Macy’s Plaza had devolved into a dated, downscale relic that got little love despite its location near offices, hotels and a busy subway interchanget. May 2017 photo of developer Wayne Ratkovich at The Bloc. (Los Angeles Times) L.A. developer Wayne Ratkovich launched a challenging makeover project that included tearing the roof off the central courtyard to make it an outdoor shopping center, adding shops and restaurants along the sidewalk, and punching a portal to the 7th Street/Metro Center subway station. Unexpected construction issues slowed work and helped drive costs well over t...