LOS ANGELES, CA – Colliers International, the second largest real estate services organization globally, has negotiated a 10-year lease for a 15,444-square-foot office space located at 221 S. Figueroa St (top left photo). in Downtown Los Angeles for The Associated Press. The transaction is valued at $5.5 million. Nathan Pellow (middle right photo), senior vice president, based in Colliers International’s Downtown Los Angeles office represented the tenant along with Brian Feist, senior managing director of Colliers International in New York. Chris Runyen, managing director with Charles Dunn Company represented the landlord, US Bank.
Built in 1977, the building is part of a multi building campus in the heart of Downtown Los Angeles and is home to US Bank (Formerly California National Bank), One Legacy, and UCLA Extension.
“This deal represents a significant lease extension by a quality national tenant in DTLA in the last quarter of 2010,” said Pellow. “AP had already invested significant money into the space with respect to IT infrastructure. We were able to lock in the lease on this facility at below market rates with a sizeable TI allowance.”
For further information, please contact:
Angela Hwang, Regional Marketing Coordinator
Greater Los Angeles, Colliers International
Tel: 213 532 3258
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