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May 26, 2018
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Portland’s Centrl Office to Set-Up Co-Working Space in LA’s Little Tokyo

4/30/18

Portland-based Centrl Office, a provider of collaborative co-working office space, has agreed to a 10-year lease for 29k sf in Little Tokyo’s Brunswig Square in downtown Los Angeles.The lease value was not disclosed.

Located at the intersection of Second Street and Central Ave, the building began life in 1931 as a five-story drug company warehouse. Over the years, it was renovated several times, eventually growing to eight stories with floor-to-ceiling windows, high and open ceilings, unobstructed views of the city, and 33k sf of street-level retail shops and restaurants. It also includes onsite parking, with another 10 public parking structures within a two block radius.

Owned and renovated by Jamestown Development Company, the building also is within two blocks of the increasingly popular Downtown Arts District featuring upscale entertainment venues, hotels, and restaurants, and is just one-half mile from the city’s traditional historic core.

“As the trend in this type of office use continues to grow exponentially throughout the U.S., one of the markets untapped by Centrl Office was Los Angeles,” said L.A.-based Colliers Executive Vice President Nico Vilgiate who, along with Dallas-based colleagues Executive Vice President Tom Sutherland and Senior Associate Ryan Hoopes, led the brokerage team representing the Portland-based company. CBRE’s Chris Penrose represented the building owner.

Centrl describes its co-working spaces as “a hotel with no beds. A house without the barking dog. A pub without the drunks. A coffee shop with meeting rooms.” Further, it cites as its primary amenities on-site concierges, high-performance wi-fi, full-service kitchens, large and small meeting spaces, and flexible workspaces close to public transportation.

“Since almost 2 million people (according to Forbes Magazine) have now worked in some sort of co-working environment at one time or another worldwide, we predict this will be a growing source of office tenancy well into this century,” added Vilgiate. “This has become more apparent as time goes on, especially as major corporations continue to become more and more task oriented, loosening not just their suit-and-tie dress policies, but also their policies on where and how employees, free lancers, and independent contractors they use can work, as long they get the work done.”





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