Figueroa at Wilshire is the ninth-tallest constructing in Los Angeles. Picture courtesy of CommercialEdge
Brookfield Properties has chosen Avison Younger as leasing agent for Figueroa at Wilshire, a 1.1 million-square-foot Class A+ workplace tower in Los Angeles’ Monetary District. Principal John Eichler and Senior Vice President Tyler Stark will oversee leasing on the 52-story trophy high-rise.
Designed by Albert C. Martin & Associates, Figueroa at Wilshire—previously often known as Sanwa Financial institution Plaza—got here on-line in 1990. Brookfield Properties has been its proprietor for almost 20 years, having bought it from Hines Pursuits in 2005 for $357 million, in line with CommercialEdge info.
Previous to selecting Avison Younger, the agency supplied in-house leasing companies on the property. At the moment, the tower’s tenant roster includes each native and worldwide banking, engineering, funding, legislation and industrial actual property service corporations.
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Avison Younger’s new task will embody the whole lot of the LEED Gold-certified tower’s workplace and retail areas. That includes 21,102-square-foot floorplates, Figueroa at Wilshire is the ninth-tallest constructing in Los Angeles. Tenants have entry to convention areas, a health middle, a café, dry cleaners, a motorcycle room, out of doors seating, a personal lounge and on-site electrical car charging stations.
Located at 601 S. Figueroa St. in Los Angeles’ central enterprise district, the property’s neighbors embody the Wilshire Grand Middle, the tallest constructing within the Western U.S., in addition to the Metropolis Nationwide Plaza advanced.
Los Angeles workplace area: a story of highs and lows
On the tail finish of a troublesome 12 months for the workplace sector, Los Angeles’ market has seen each successes and setbacks. In keeping with a latest CommercialEdge market replace, the metro has the nation’s largest gross sales quantity year-to-date by means of October, totaling $1.86 billion. On the flipside, leasing exercise and occupancy have declined, with a latest JLL report exhibiting a downward-trending year-to-date web absorption of 4.7 million sq. toes and a emptiness price of 26.1 %.
Town’s downtown noticed its largest lease of the 12 months this week, with Sheppard Mullin inking almost 120,000 sq. toes at Metropolis Nationwide 2CAL, a 1.4 million-square-foot tower.
