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May 18, 2024
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DTLA’s Gas Company Tower Listed for Sale

5/15/24

The Gas Company Tower, a 52-story, LEED-Gold-certified office tower totalling 1.373 msf of office space in downtown Los Angeles has been put on the market. The property was formally owned by an affiliate of Brookfield Asset Management Ltd and is now a receiver sale as part of the foreclosure proceedings, with Gregg Williams with Trident Pacific Real Estate as receiver.

Positioned on a 1.39-acre site at 555 W Fifth St, The Gas Company Tower is located within the Bunker Hill neighborhood of Downtown Los Angeles (DTLA). With a WalkScore® of 98, the property offers unrivalled pedestrian access to a wide array of dining, entertainment and cultural destinations.

The Class A highrise was built in 1991 by Maguire Properties. It was designed by architectural firm Skidmore, Owings and Merrill.

DTLA has seen a surge in residential development, with many new communities within walking distance of 555 W Fifth St. The property also boasts a TransitScore® of 100, situated just one block from the Pershing Square Metro station. Nearby are numerous dining options and cultural attractions, including the Walt Disney Concert Hall, The Broad Museum, and the Museum of Contemporary Art (MOCA).

The Gas Company Tower is currently 57% leased, with approximately 74% of the rent roll consisting of credit tenants, including Deloitte, Southern California Gas Co., B. Riley, Arent Fox Schiff, Knol Latham & Watkins, ICF Consulting Group, Mirae Asset Global Investments and Starbucks.

A JLL Capital Markets Investment Sales and Advisory team representing the seller is being led by Senior Managing Director Jeffrey Bramson and Managing Director Andrew Harper and Director Will Poulsen. The property went into foreclosure in April of 2023.




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