Downtown Los Angeles currently has the largest lease transaction yet in 2019. L.A. Care Health Plan has signed a 370,000-square-foot lease at 1200 West 7th Street in Downtown Los Angeles with Rising Realty Partners. It will take occupancy of the property in 2024.
L.A. Care Health Plan is the largest publicly-operated health plan. The lease deal is part of a consolidation of the company's Los Angeles office space, moving all 2,000 employees under one roof. As a result, the L.A. Care was able to reduce its office footprint by 63,000 square feet, saving millions of dollars per year.
Clay Hammerstein of CBRE represented L.A. Care in the transaction, while John McAniff of JLL represented Rising Realty Partners.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
