Press Release

LOS ANGELES FOOTBALL CLUB SIGNS NEW OFFICE LEASE AT HISTORIC BUILDING IN DOWNTOWN LOS ANGELES

15 5 2018

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The Los Angeles Football Club (LAFC) signed a new 25,000 square-foot lease at a historic building in Downtown Los Angeles.

CBRE’s Chris Caras, Phillip Sample, Brad Chelf, Brandon Bank and Taylor Watson represented the landlord, Downtown Properties, an associate of Gaw Capital.

The property, 818 W. 7th Street, is a BOMA Building of the Year award winner, and is located across the street from the new Wilshire Grand. The 12-story structure, which was constructed in 1924 and renovated in 2016 and 2018, features many of the original historic elements, exposed brick with concrete floors, ceilings, and columns.

“We are extremely excited to establish our business operations headquarters at 818 W. 7th Street, in the Heart of Los Angeles,” LAFC President & Co-Owner Tom Penn said. “Located just minutes up Figueroa Street from the Banc of California Stadium and near our Performance Center in East L.A., this is the perfect location for us to continue to build our club’s connection to the city.”

Added Goodwin Gaw, principal of Downtown Properties, “It is a real honor that Los Angeles’ newest sports team, LAFC, has selected our 818 Building for its new headquarters. We look forward to welcoming LAFC to downtown Los Angeles.”

Late last month, LAFC unveiled its new home field, the Banc of California Stadium. The new $350 million stadium features 22,000 seats and is located in Exposition Park.

“This deal shows that the appeal of this part of town has broadened,” said Caras. “While it was dominated by government offices just 10-15 years ago, Downtown LA has morphed into this hip, amenity-rich environment that features one-of-a-kind properties that are attractive to a great variety of employers including financial, media and entertainment, tech and now sports.”

Downtown Los Angeles and surrounding neighborhoods have seen a flurry of new projects and redevelopment of existing buildings across all neighborhoods, including the historic core, the financial district and South Park. Since 1999, Downtown has received more than $7.3 billion in residential, $1.2 billion in arts & entertainment, and $2.6 billion in civic and institutional investments
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.