Asset manager TCW Group is moving its headquarters out of the 52-story TCW Tower in downtown Los Angeles and downsizing its office footprint 22% by leasing 140K SF at City National Plaza.
According to reports, the move will be completed in 2024, when TCW's lease on the 37-story building on Figueroa St. that bears its name expires. The TCW Tower was built in 1990.
City National Plaza is owned by a joint venture between the California Public Employees' Retirement System and Commonwealth Pacific Capital (CWP Capital), which bought its two 52-story office towers—home to 2.3M in office space and about 250K in retail—in 2013 for $858M. City National Plaza is about a mile from the TCW Tower.
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