US Bank Tower Signs Anchor Tenant

LOS ANGELES—Law firm Lewis Brisbois Bisgaard and Smith has signed a 215,230-square-foot anchor tenant lease with OUE Limited at the US Bank Tower in Downtown Los Angeles. The office lease is the largest signed in the downtown market in more than 18 months. The lease value was not disclosed, however, market experts unrelated to the deal estimate the value to be around $115 million.

Lewis Brisbois Bisgaard and Smith had formerly occupied 160,000 square feet of space in downtown at 221 N. Figueroa, but were forced to relocate after the Da Vinci Apartment fire late last year damaged the building. “We moved to the building in January of this year after the Da Vinci Apartment fire,” Jonathan Larsen, Avison Young principal and managing director, tells GlobeSt.com. “We moved to the US Bank Tower in a short-term lease, and we went out to the market to find some long-term alternatives. One was to move back to the building at 221 N. Figueroa or to look at some other options. After a thorough search and evaluation of the market, we made a decision to terminate our lease at 221 N. Figueroa and stay at US Bank Tower long term.” Larsen represented the tenant in the transaction, along with his Avison Young colleague associate Chandler Larsen. John Eichler of Cushman & Wakefield and Peter Johnston of OUE represented the landlord in the transaction. The landlord’s team declined to comment on the deal.