Updated Sep 30, 2025
Los Angeles Housing Department Leases 300,000-Square-Foot Office Space At Gas Company Tower
1200 West Seventh Street Los Angeles, California 90013, Usa
$40
$40/SF
Building Size
300,000 SF
Asset Type
Office
Closing
Jun 14, 2023
About this deal
AI
The Los Angeles Housing Department (LAHD) has signed a lease for a 300,000-square-foot office space across 13 floors in the Gas Company Tower located at 555 West Fifth Street in Los Angeles. The lease agreement is with the landlord, Brookfield, and the tenant is the LAHD represented by Tricia Keane.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Asking Rent: $40/ft.
- Square Footage: 300,000
- Address: 555 West Fifth Street
- Market: Los Angeles
This lease agreement is expected to have a positive impact on the struggling office market in the Downtown L.A. area, as it currently faces a high vacancy rate. The move by the LAHD to occupy such a large space in Gas Company Tower signifies a potential increase in demand for office spaces in the area.
Players
Chester 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
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93