News Brief
Office space in Downtown Los Angeles is in strong demand, according to figures released this month by Brookfield Properties, one of the community's biggest landlords. The company, which owns 110 properties totaling 73 million square feet in 12 cities in the U.S. and Canada, said Los Angeles was its strongest market. "Downtown L.A. was the best-performing market in our entire portfolio, U.S. and Canada, during the first quarter," said Melissa Coley, vice president, of investor relations and communications for the company. Brookfield owns more than 3.5 million square feet of office and retail space in three Downtown complexes: the Bank of America Plaza at 333. S. Hope St., Ernst & Young Plaza (including the 7+Fig mall) at 725 S. Figueroa St., and Figueroa at Wilshire at 601 S. Figueroa St. At Ernst & Young Plaza in the first quarter, the firm inked a 32,000-square-foot lease with Hotchkis and Wiley Capital Management and a 15,000-square-foot deal with Axis Reinsurance. At Bank of America Plaza, the Analysis Group took 26,000 square feet, while at Figueroa at Wilshire, Sumitomo Mitsui Banking Corp. acquired an 18,000-square-foot space and Covington Capital Management signed a 17,000-square-foot lease.
page 2, 5/26/2008
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