The asset involved in the transaction is an office space located at 350 South Grand Avenue, Los Angeles, encompassing a total area of 198,553 square feet. This property is situated in a prominent market area and serves as the new headquarters for the Southern California Gas Company (SoCalGas). The lease marks an important movement within Downtown L.A., specifically noted as the largest lease in the area for the year.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 350 South Grand Avenue
• Market: Los Angeles
• Square Footage: 198,553
• Landlord: Shaul Kuba - CIM Group
• Tenant: Southern California Gas Company (SoCalGas)
• Landlord's Representatives: Geno St. John - CIM Group; Hayley Blockley & Peter Hajimihalis - JLL
• Tenant's Representatives: Clay Hammerstein & Danny Rees - CBRE

In this transaction, SoCalGas plans to vacate its current Gas Company Tower headquarters by spring 2026, transitioning to a space that is approximately one-third smaller. An additional detail includes the company's name replacing City National Bank’s signage atop the new building, indicating a significant branding change coinciding with the lease agreement.