GUIDE TO DOWNTOWN LA Innovation, sustainability and California roots are core to Califia Farms. Our new DTLA is one of the key offices reflect this onein both of the their country’s design and financial epicenters of Southern in their location in California, which is very desirable to most exciting creative incubator : DTLA Arts District. employees and other businesses… districts The synergies of this location are Greg Steltenpohl important to our human capital and CEO of Califia Farms the future growth of our firm both nationally and internationally. Stanley Iezman CEO of American Realty Advisors As our organization grows, we feel there will be an intrinsic benefit to immersing in the progressive culture of Downtown Los Angeles… Our new location will afford This strategic moveattract will allow the usbest to expandtalent in our this operations dynamic us a better opportunity to and continue to identify market trends where market…As our company embarks on a new phase of rapid they happen. growth, all of us at Evite remain focused on our mission of bringing people together face-to-face. Truman Kim , Chief Executive Officer of Evite Chairman & Chief Executive Victor Cho of K-Swiss Global Brands When looking for new offices, we took many factors into consideration, including square footage, location and commutes… But above all, we wanted an exciting space that enables us to preserve our unique company cultures, while promoting greater collaboration across divisions. Stephen Cooper CEO of Warner Music Group 2 Downtown Center Business Improvement District I Office Space INSIDE 4 THE DTLA STORY 6 PROPERTIES 8 Class A 7 12 Historic 16 Industrial 20 MAPS 22 TENANTS 23 Finance, Legal & Business Services 24 Real Estate & Development 26 Creative & Media 28 Technology & Innovation 30 NEIGHBORHOODS 31 Neighborhood Map 32 Bunker Hill 33 Financial District 29 34 Historic Core 35 Arts District 36 South Park 37 Fashion District 38 Little Tokyo 39 Chinatown 40 DTLA 3.0 42 ABOUT THE DCBID 35 Office Space I Downtown Center Business Improvement District 3 It feels like you’re in a real city, not in a Hollywood or Silicon Beach bubble. You look out of the windows and it’s like you’re watching a scene from ‘Chinatown’ or some other movie like that. There’s such a hubbub of activity. It just feels vibrant and thriving, which is not something you could say about L.A. downtown 10 years ago.” Zach Blume , Co-Founder, Portal A The DTLA Story Community, Culture, and Convenience owntown Los Angeles (DTLA) of new projects. But behind the finance, and legal services. Now has reclaimed its status as scenes an even more compelling it is attracting a new generation Dthe economic and cultural story is unfolding – by and about of tenants in growth sectors center of Southern California and people passionate about DTLA such as technology, design, captured the imagination of the and companies committed to its and media. These creative and city and beyond. future. We invite you to be part entrepreneurial companies are Headlines proclaim the opening of that story. establishing a dynamic innovation of new restaurants, arrival of Downtown has long been home scene in DTLA, with a vibrancy new companies, and construction to industries like real estate, that extends to its trend-setting 4 Downtown Center Business Improvement District I Office Space restaurants and culture, and the DTLA BY THE NUMBERS forward-thinking design of its streetscapes and public spaces. Nearly 500,000 people work in DTLA, and the residential $1B invested in DTLA startups, population has grown to over such as: NationBuilder, Soylent, Oblong 80,000 today (projected to top Industries, and Hyperloop One 150,000 in the coming years). They are passionate, creative, and highly skilled – representing a deep pool of talent, broad customer base, and engaged 37M square feet of civic community. They are also Class A Office Space in DTLA driving DTLA’s social and cultural ascendance, in concert with the world-class institutions and pioneering organizations that are shaping trends in everything from art to food to fashion. 35% of Downtown workers For all its cache, Downtown also live within 10 miles of DTLA represents an increasingly practical option for today’s office tenants. Its central location, unparalleled access to freeways and public transportation, and equal proximity 500K workers with a to Silicon Beach and Hollywood are Bachelor’s Degree or higher within 10 miles among its geographic advantages. It is also the largest office market in Southern California with an unparalleled number and variety of buildings and spaces to choose 60K 4-YEAR degrees conferred from including prestige towers, by local universities historic properties, and converted industrial buildings. Convenience also applies to the DTLA lifestyle. There is a REGIONAL TRANSPORTATION HUB wide range of retail, restaurants and amenities, and easy access 6 freeways to everything from cultural events to government offices 6 Metrolink Lines across its unique and increasingly interconnected neighborhoods, 5 Metro Rail Lines from Civic Center to South Park, Bunker Hill to the Arts District. 15m passengers a year at 7th/Metro Center In the following pages we present the story of DTLA – its 15 miles to LAX appeal, benefits, and competitive advantages. This story is happening 15 miles to Burbank Airport in real-time and is highly interactive – so we encourage you 25 miles to Long Beach Airport to jump in and make it yours. Office Space I Downtown Center Business Improvement District 5 PROPERTIES Downtown LA is the region's biggest commercial Class A properties into the 21st century, while historic real estate market, with over 37 million square feet buildings return to their former glory, retrofitted of Class A office space. It is also the most diverse, with modern technology, and industrial spaces including the best collection of historic office are repositioned for a new generation of tech and buildings in Southern California as well as 30 million creative companies. square feet of warehouse and industrial space. And it’s all in the middle of “America’s Most The DTLA office market is also radically Colorful Neighborhood” (Forbes) which is what transforming with buildings in every class and everyone really cares about - especially at the end of neighborhood evolving inside and out. New the work day when DTLA has more restaurants, bars, ownership, tenants, and workspaces are bringing and entertainment than anywhere in the city. OFFICE MARKET STATS: DTLA vs. WEST LA While increased demand for office space has pushed rents over $3.00 per square foot amid declining vacancy, DTLA continues to offer tremendous value for office tenants. Space in millions Rent per Savings Market of square feet square foot in DTLA Downtown LA 66.1 $3.29 -- Beverly Hills 11.2 $5.48 40.0% Marina Del Rey/Venice 16 $5.29 37.8% Santa Monica 11.1 $5.07 35.1% Century City 7.3 $4.79 31.3% Culver City 10.2 $4.63 28.9% Westwood 9.3 $4.13 20.3% Hollywood/Silver Lake 13.2 $4.12 20.1% West Hollywood 8.4 $4.34 24.2% Total West LA 86.7 $4.77 31.0% Source: CoStar 6 Downtown Center Business Improvement District I Office Space PROPERTY TYPES CLASS A Modern glass and steel towers, long-desired for their high-quality spaces and amenities, large floorplates, and prestige locations. HISTORIC Classic buildings from the early 20th century updated for today’s creative firms in architecture, design, fashion, and technology. INDUSTRIAL Traditional warehouse and manufacturing properties retrofitted and repositioned as flexible open space. Office Space I Downtown Center Business Improvement District 7 PROPERTIES: CLASS A CLASS A Bunker Hill is home to nine of the largest Class A properties in DTLA, concentrating over 10 million square feet of office space into four city blocks. Most of these properties are under new ownership that has been making significant investments to upgrade infrastructure, amenities, programming, and design to meet the demands of a new generation of tenants. And they’ve still got the best views in town! 8 Downtown Center Business Improvement District I Office Space CLASS A: BUNKER HILL Building Name Address Built/Reno Stories Area Owner Wells Fargo Center 333/355 S Grand Ave 1982 54 2,571,000 Brookfield Properties U.S. Bank Tower 633 W 5th St 1989 72 1,432,539 Overseas Union Enterprise Limited Bank Of America Plaza 333 S Hope St 1974 55 1,432,285 Brookfield Properties Two California Plaza 350 S Grand Ave 1992 52 1,371,385 CIM Group The Gas Company Tower 555 W 5th St 1991 50 1,303,703 Brookfield Properties One California Plaza 300 S Grand Ave 1985 42 1,039,449 Rising Realty Partners FourFortyFour South Flower 444 S Flower St 1981 48 891,056 Coretrust Capital Partners 400 S Hope 400 S Hope St 1982 26 701,535 PNC Financial Services CLASS A: FINANCIAL DISTRICT City National Plaza 515/555 S Flower St 1971/2005 52 2,774,000 CommonWealth Partners Figueroa at Wilshire 601 S Figueroa St 1990 52 1,118,941 Brookfield Properties Aon Center 707 Wilshire Blvd 1974/2009 62 1,110,000 Shorenstein 777 Tower 777 S Figueroa St 1991 52 1,024,834 Brookfield Properties Ernst & Young Plaza 725 S Figueroa St 1985/1999 41 915,316 Brookfield Properties The Bloc 700 S Flower St 1973/2016 32 721,693 National Real Estate Advisors 865 South Figueroa 865 S Figueroa St 1990 35 732,349 John Hancock Real Estate USC Tower (South Park) 1150 S Olive St 1963/2007 32 590,000 LBA Realty The Wedbush Center 1000 Wilshire Blvd 1987 21 476,491 Cerberus Capital Management 888 Figueroa 888 S Figueroa St 1985 21 374,106 JADE Enterprises Wilshire Grand Center 900 Wilshire Blvd 2017 30 372,775 Korean Airlines Office Space I Downtown Center Business Improvement District 9 PROPERTIES: CLASS A CLASS A: HACKING THE HIGHRISE With over $7 billion invested in Class A Office Towers since 2013, new owners are maximizing the value and appeal of their buildings by reimagining them from the inside out, and reconnecting them to a revitalized Downtown.