{"id":1004695191,"date":"2023-12-22T04:29:26","date_gmt":"2023-12-22T12:29:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004695191"},"modified":"2023-12-22T07:07:24","modified_gmt":"2023-12-22T15:07:24","slug":"avison-young-tapped-to-lease-la-trophy-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/avison-young-tapped-to-lease-la-trophy-tower\/","title":{"rendered":"Avison Young Tapped to Lease LA Trophy Tower"},"content":{"rendered":"<div id=\"attachment_1004695611\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Figueroa-at-Wilshire.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004695611\" data-attachment-id=\"1004695611\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-tapped-to-lease-la-trophy-tower\/figueroa-at-wilshire\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Figueroa-at-Wilshire.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Figueroa at Wilshire\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Figueroa-at-Wilshire.jpg?w=640\" class=\"wp-image-1004695611 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Figueroa-at-Wilshire.jpg?w=240\" alt=\"\" width=\"240\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Figueroa-at-Wilshire.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Figueroa-at-Wilshire.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-1004695611\" class=\"wp-caption-text\">Figueroa at Wilshire is the ninth-tallest building in Los Angeles. <em>Image courtesy of CommercialEdge<\/em><\/p><\/div>\n<p><strong>Brookfield Properties<\/strong> has selected <strong>Avison Young <\/strong>as leasing agent for Figueroa at Wilshire, a 1.1 million-square-foot Class A+ office tower in Los Angeles\u2019 Financial District. Principal John Eichler and Senior Vice President Tyler Stark will oversee leasing at the 52-story trophy high-rise.<\/p>\n<p>Designed by Albert C. Martin &amp; Associates, Figueroa at Wilshire\u2014formerly known as Sanwa Bank Plaza\u2014came online in 1990. Brookfield Properties has been its owner for nearly two decades, having purchased it from Hines Interests in 2005 for $357 million, according to CommercialEdge information.<\/p>\n<p>Prior to picking Avison Young, the firm provided in-house leasing services at the property. Currently, the tower&#8217;s tenant roster comprises both local and international banking, engineering, investment, law and commercial real estate service companies.<\/p>\n<hr \/>\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/getting-in-the-heads-of-office-tenants\/\"><span class=\"fl-heading-text\">Getting in the Heads of Office Tenants<\/span><\/a><\/p>\n<hr \/>\n<p>Avison Young\u2019s new assignment will encompass the entirety of the LEED Gold-certified tower\u2019s office and retail spaces. Featuring 21,102-square-foot floorplates, Figueroa at Wilshire is the ninth-tallest building in Los Angeles. Tenants have access to conference areas, a fitness center, a caf\u00e9, dry cleaners, a bike room, outdoor seating, a private lounge and on-site electric vehicle charging stations.<\/p>\n<p>Situated at 601 S. Figueroa St. in Los Angeles&#8217; central business district, the property&#8217;s neighbors include the Wilshire Grand Center, the tallest building in the Western U.S., as well as the City National Plaza complex.<\/p>\n<h2>Los Angeles office space: a tale of highs and lows<\/h2>\n<p>At the tail end of a difficult year for the office sector, Los Angeles\u2019 market has seen both successes and setbacks. According to a recent CommercialEdge <a href=\"https:\/\/www.commercialsearch.com\/news\/los-angeles-office-deal-volume-highest-in-the-country\/\">market update<\/a>, the metro has the nation\u2019s largest sales volume year-to-date through October, totaling $1.86 billion. On the flipside, leasing activity and occupancy have declined, with a recent <strong>JLL<\/strong> report showing a <a href=\"https:\/\/www.us.jll.com\/en\/trends-and-insights\/research\/office-market-statistics-trends\/los-angeles\" target=\"_blank\" rel=\"noopener\">downward-trending<\/a> year-to-date net absorption of 4.7 million square feet and a vacancy rate of 26.1 percent.<\/p>\n<p>The city&#8217;s downtown saw its largest lease of the year this week, with Sheppard Mullin inking nearly <a href=\"https:\/\/www.commercialsearch.com\/news\/cim-group-signs-downtown-las-largest-office-lease-of-2023\/\">120,000 square feet<\/a> at City National 2CAL, a 1.4 million-square-foot tower.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 1.1 million-square-foot building has been owned by Brookfield Properties since 2005.<\/p>\n","protected":false},"author":3012,"featured_media":1004695613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1594,21742,21747,15],"tags":[33022,33497,32796],"class_list":["post-1004695191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-los-angeles","category-latest","category-office","category-west","tag-avison-young","tag-brookfield-properties","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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