Brown & Riding Insurance Services Signs 10-Year Lease At U.S. Bank Tower In Downtown LA

Insurance firm Brown & Riding is moving its Los Angeles office to the U.S. Bank Tower in downtown LA, signing a 10-year lease for a 13,043-square-foot space on the 20th floor. The lease terms for the office space at 633 West Fifth Street were agreed upon at an asking rent of $46 per square foot, totaling approximately $599,378 per year. The transaction was facilitated by the landlord, Silverstein Properties, and the tenant's representatives, David Kluth and Aliya Coher from Newmark.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $599,378 per year
• Address: 633 West Fifth Street
• Market: Los Angeles
• Tenant: Brown & Riding Insurance Services
• Landlord: Silverstein Properties
• Landlord's Rep: Harlan Strader - Silverstein Properties; Jaclyn Ward, James Malone & Sarah Hancock - JLL
• Tenant's Rep: David Kluth & Aliya Coher - Newmark
• Asking Rent: $46 per sq. ft.
• Lease Terms: 10-year

The move to the U.S. Bank Tower follows a capital improvement program completed by Silverstein Properties, which invested $60 million into upgrading the tower's common areas and amenities, making it an attractive location for Brown & Riding Insurance Services to establish their Los Angeles office.