Tuesday, March 12, 2013

Downtown LA High Rise Leaves Financial District for Historic Downtown Los Angeles!

Mark Lacterover at LA OBSERVED, yesterday observed - without comment - that the Los Angeles Business Journal is reporting the office tower at 601 S. Figueroa has just moved itself from the Financial District to the Historic Core (aka - Historic Downtown Los Angeles) neighborhood. Blair Besten, head of the Historic Downtown Los Angeles BID, has not yet returned a phone call on how the HDLA BID managed to pull off this stunning historic event.
The loss of the large occupant is another setback for MPG, which has seen a number of its tenants move out or downsize as it struggles with $1.9 billion in debt and the possible sale of its portfolio. The move is a blow to the Bunker Hill neighborhood, too, coming on the heels of accounting firm PricewaterhouseCoopers LLP's announcement that it would move its 135,000-square-foot requirement to the Historic Core's 601 Figueroa St. from Bunker Hill's 350 S. Grand.

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