By Ariela Moraru
American Realty Advisors will be relocating from Glendale, Calif., to downtown Los Angeles in June. ARA has also recently completed a major rebranding to further support the firm’s growth.
The company will move to the 49th floor of 515 S. Flower St. in the City National Plaza. The new office will provide open workspaces and expanded conference and meeting rooms. Current building tenants include international law firm Paul Hastings.
“Our move to DTLA will accomplish three important factors of the firm’s growth, a focus on sustainability, finding and retaining great talent, and being in the financial center of Los Angeles, where global capital decisions are made,” Stanley Iezman, chairman & CEO of ARA, said in prepared remarks.
Designed by AC Martin & Associates, City National Plaza consists of twin 52-story towers, one four-story granite building and four underground levels of retail and on-site parking, all totalling 2.5 million square feet. According to Los Angeles Business Journal, in 2013, California State Teachers’ Retirement System accepted an offer of more than $900 million from CommonWealth Partners for the 1971 property. The Class A buildings have been awarded an Energy Star label and are LEED certified to the Gold level. The property is in the heart of the Financial District, just off Route 110 and with easy access to interstates 10 and 110.
Earlier this year, ARA in partnership with Unico Properties acquired a 23-story Class A office building in the heart of Portland’s central business district.
Image courtesy of Commonwealth Partners