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5/25/12
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Architectural firm Altoon Partners agreed to a lease for a full-floor, 15.9k sf office space at 617 W. 7th St in downtown Los Angeles. The international firm, formerly known as Altoon + Porter, will be relocating later this year from nearby at 444 S. Flower St. The company also has offices and partners in Amsterdam and Shanghai.
With this lease, 617 West 7thstands at 92% leased. The building is owned by The Swig Company, who just acquired it in January of this year. Other tenants include Perkins + Will, The Chicago School of Professional Psychology and Glumac Engineering.
The 12-story building was constructed in 1923 as the original headquarters of the Union Oil Company. The building underwent a complete renovation in 2001, and now offers tenants state-of-the-art infrastructure with upgrades to the HVAC, elevator, and electrical systems. The building provides unlimited broadband, data service and a “decompression lounge” area for use by tenants. It also operates a fully wired, videoconference center and offers common area recreational amenities for tenants including game tables, a large screen television and a basketball court. Among the building’s unique architectural features are its stunning, historic lobby with gold leaf paneling and checkerboard floor.
617 W 7th is situated in the city’s burgeoning South Financial District, a submarket which continues to attract firms seeking creative office environments offering open, efficient floor plans, high exposed ceilings, abundant natural light and interior brick walls. The area features numerous trendy restaurants, cafes, and retail shops with access to abundant and inexpensive parking. There is easy access to the 10, 110, 5 and 101 freeways as well as public transit such as LA Metro’s bus and LADOT’s DASH lines. The 7th Street Metro Center, the city’s largest Metrorail station, is directly across the street.
The Swig Company’s portfolio currently includes commercial properties in California, New York, Texas and New Jersey. The company recently purchased 595 East Colorado Blvd, an 86k sf office building in Pasadena, and Southern California is one of the company’s key target markets for new acquisitions.
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