DTLA's 5 Priciest Buildings
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$3.55/SF
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446k SF
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$3.50/SF
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218k SF
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$3.44/SF
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1.4M SF
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$3.30/SF
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1.4M SF
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$3.25/SF
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450k SF
We already told you about the 5 priciest buildings in West LA. This week Bisnow, with the help of our pals at Colliers, will break down the most expensive offices in DTLA.
The PacMutual building has undergone a complete renaissance in the last couple years, with Rising Realty Partners picking it up for $60M and completing a massive reno. Colliers tells us the building has different rates, but says the price averages out at $3.55/SF not counting retail or sublet space. Tenants at the '20s-era building include Nasty Gal and Steinberg.
The old Union Oil HQ at the hot corner of 7th and Hope is owned by SIC-West 7th LLC. The building is a veritable LA landmark. The building was awarded LEED Gold in 2013. Tenants include Perkins+Will and Ergobaby.
The US Bank Tower is the tallest building west of the Mississippi. Built in 1989, the building was picked up by OUE in 2013 for $367.5M. The owner has big plans to reno the 72-story tower this year, including a pretty sexy observation deck. The building also just brought in a massive tenant, after mega law firm Lewis Brisbois was forced to take 215k SF because its home was damaged in the Da Vinci fire.
The 52-story California Plaza is owned by CIM Group and was a 10-year project--finally completed in 1992 during a downturn. CIM picked up the building last year as part of a seven-property portfolio from CWCapital Asset Management. Top tenants include Deloitte and WilmerHale. California Plaza ranks No. 8 on LA's tallest skyscrapers.
LA Center Studios is caught in a four-way tie for fifth on the list. The building is a full-service studio for television, film and commercial production. It features six 18k SF sound stages and one swing stage, as well as 450k SF of office space. Various movies (Mission Impossible II, Charlie’s Angels, Mr. & Mrs. Smith and Live Free or Die Hard to name just a few) and prominent TV shows (Mad Men, Bones, House) have been filmed at the site. The fifth spot is shared with the Fine Arts Building at 811 W 7th, Union Bank Plaza at 445 S Figueroa and the soon-to-come BLOC from Ratkovich Co at 700 S Flower St (one of three major developments DTLA is expecting to open in October).
