Overview
JLL, as exclusive advisor, is pleased to offer investors an opportunity to acquire the 100% fee simple interest in the Gas Company Tower (the “Property”), a 1,373,583 SF trophy quality office tower located at 555 W Fifth Street on Bunker Hill in Downtown Los Angeles. The Property was designed by the world-renowned architecture firm Skidmore, Owings and Merrill and is currently 50% leased.
Situated in the highly sought-after Bunker Hill submarket, Gas Company Tower is surrounded by a distinguished set of office buildings, including The US Bank Tower, 444 S Flower, 2CAL, and Wells Fargo Tower. The Property boasts a diverse mix of predominantly credit tenants (73% of rent roll), including highprofile companies such as Southern California Gas Co, Deloitte, B. Riley, Knoll, Arent Fox LLP, and Latham & Watkins LLP. DTLA maintains one of Los Angeles’ most walkable amenity base and continues to deliver new multifamily options. Investors in the offering will have DTLA’s best mix of relative basis and asset quality.
Investment Highlights
Strong Credit Tenant Roster:
• 73% of the rent roll - over 550,000 SF - is occupied by credit tenants. Tenants include Deloitte, Southern California Gas Company, B. Riley, Arent Fox Schiff, Knoll, Latham Watkins, ICF Consulting Group, Mirae Asset Global Investments, and Starbucks, among others.
Generational Investment Opportunity:
• Ability to acquire a trophy asset at a generationally low basis and a fraction of replacement cost. Investors can use the competitive basis drive outsized market demand and provide tenants comfort with a new owner and capital stack stability.
Prime Location in Bunker Hill:
• The Property is located on Bunker Hill, Downtown LA’s premier location. With a walk score of 98, Gas Company Tower offers unrivaled pedestrian access to a wide array of dining, entertainment, and cultural destinations. Fine dining options like Otium, Asterid, and Nick & Stef’s Steakhouse, as well as fast-casual eateries like Lemonade, Mendocino Farms, Chipotle, and Shake Shack are a short walk away. A variety of cultural attractions such as the Walt Disney Concert Hall, The Broad Museum, and the Museum of
Contemporary Art (MOCA) are less than 5 minutes away.
Thriving Residential Developments:
• There has been a recent surge in multi-housing developments in DTLA, including The Grand LA, Angels Landing, Olympia, Beaudry, 8th and Figueroa, and 700 S Flower Street. New development will continue to attract young, educated talent to the area, bolstering tenant demand.
Convenient Access to LA’s Expanding Public Transit
• With a perfect transit score of 100, Gas Company Tower is just one block away (0.1 miles) from the Pershing Square Metro station. This proximity allows tenants and visitors to easily access all corners of Los Angeles via the expanding metro rail system.
Modern Architecture:
• Gas Company Tower, constructed in 1991, maintains a modern aesthetic thanks to its design by the worldrenowned Skidmore, Owings and Merrill architectural firm. The building’s timeless design allows it to stand out among the more dated subset of buildings in the surrounding area.
Commitment to Sustainability:
• The Property boasts a LEED Gold Certification, demonstrating a commitment to efficiency and sustainability.
