The property involved in this transaction is located at 515 S Figueroa St, Los Angeles, CA. This asset is an office type property comprising 17,000 square feet. Bright Horizons Family Solutions has signed a 15-year lease with the landlord, John Hancock Life Insurance Co, for this space, which will be utilized as a child care center. The lease is valued at more than $9 million, and the property is situated in the Los Angeles market.

Summary of transation details:

• Property Type: Office
• Transaction Amount: More than $9 million
• Address: 515 S Figueroa St, Los Angeles, CA
• Square Feet: 17,000
• Tenant: Bright Horizons Family Solutions
• Landlord: John Hancock Life Insurance Co
• Tenant's Representative: Tim Dwight - Stream Realty Partners
• Landlord's Representative: Nico Vilgiate - Colliers International
• Lease Duration: 15 years

The key players in this transaction include Tim Dwight of Stream Realty Partners, who represented the tenant, Bright Horizons Family Solutions, and Nico Vilgiate of Colliers International, who represented the landlord, John Hancock Life Insurance Co. Bright Horizons plans to open its child care center in the fall, coinciding with the expected opening of another new tenant, Orangetheory Fitness gym. The addition of Bright Horizons is anticipated to address child care needs as more residential units are developed in Downtown Los Angeles.