Updated Jul 14, 2026
Reynold Hoover's LA28 Expands Office Lease To 57,512 Square Feet In Downtown Los Angeles
1149 South Hill Street
Building Size
57,512 SF
Asset Type
Office
Closing
Jul 8, 2026
About this deal
AI
The property asset involved in this lease transaction is an office space located at 1149 South Hill Street in Los Angeles, CA, with a total area of 57,512 square feet. This lease showcases the ongoing development in Downtown Los Angeles and reinforces the significance of the location in meeting operational demands.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1149 South Hill Street
- Market: Los Angeles, CA
- Tenant: Reynold Hoover
- Organization: LA28
Reynold Hoover of LA28 expanded their office requirements significantly in preparation for the 2028 Olympic and Paralympic Games. This decision highlights LA28's commitment to scaling its workforce to support the upcoming events as they increase their operational capacity.
Players
South Hill Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93