DTLA Nabs L.A.’s Biggest Lease Deal Yet in 2019
L.A. Care Health Plan signs a 370,000-square-foot lease in Downtown Los Angeles with Rising Realty Partners.
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.