Los Angeles County Bar Association Relocates To New Premises In Downtown Los Angeles
13 Jun, 2008, Los Angeles, CA
The Los Angeles County Bar Association (LACBA) has signed a 12-year lease for 40,000 square feet of office space at 1055 W. Seventh Street in Downtown Los Angeles. Ted Simpson and Scott Steuber from Cushman & Wakefield represented LACBA in the transaction.
1055 W. Seventh Street is currently owned and operated by Los Angeles-based Jamison Properties. Built in 1988, the 32-story 618,000-square-foot building was acquired by Jamison from The Bristol Group Inc. of San Francisco in 2007.
LACBA will be relocating its offices and personnel from 261 S. Figueroa Street where it has occupied approximately the same amount of space for the past ten years.
“This lease is the first significant transaction at the building since Jamison’s acquisition in December of 2007,” says Simpson. “What’s even more significant is that we were able to incorporate a litany of maintenance and repair requirements into LACBA’s lease that would allow the tenant to pay for maintenance costs as an off-set against rent should maintenance or repairs be deferred.”
The Los Angeles County Bar Association, a California non-profit organization, is one of the largest voluntary bar associations in the nation with a membership of 27,000 attorneys. The County Bar is extensively engaged in advancing the administration of justice and meeting the professional needs of the legal community.
***Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in