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6/24/15
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There have been five recent lease transactions to report at 617 West Seventh Street, a 1920’s-era office building at the corner of Seventh and Hope Streets in the heart of LA’s downtown. Two of the deals were for new tenants while the other three were renewals.
The transactions included:
• Officia Imaging – a provider of high-quality office equipment and document management software solutions, signed a 63-month lease for 3.2k sf on the 5th floor of the building.
• Matura Farrington – a staffing service, signed a 65-month lease for 5.7k sf on the 5th floor of the building.
• Systra Consulting, Inc. – an international engineering and consulting group specializing in rail and public transportation, renewed its lease for 6.1k sf on the 6th floor of the building.
• Fraley and Associates – a law firm, renewed its lease for 4k sf on the 7th floor of the building.
• Illusion, LLC – a records storage facility, renewed its lease for 7k sf on the 2nd floor of the building.
Currently owned by The Swig Company, the building was originally constructed as the world headquarters of the Union Oil Company. It was extensively renovated in 2001 with upgrades to the building systems, including HVAC, electrical service and elevators. The building provides unlimited broadband and data service to tenants and a “decompression lounge” area for use by tenants.
The building operates a fully wired, conference room and offers a beautifully remodeled common area recreational amenity for the tenants’ complimentary use, including game tables, a large screen television, outdoor patio, exercise equipment, and a basketball court. Among the building’s unique architectural features are its stunning, grand historic lobby with gold leaf paneling and checkerboard floor.
The building is located in downtown Los Angeles’ revitalized historic center amid numerous trendy restaurants, cafes, and retail shops with access to abundant parking. There is easy access to the 10, 110, 5 and 101 freeways as well as public transit such as LA Metro’s bus and LADOT’s DASH lines. The 7th Street Metro Center Red Line, the city’s largest Metrorail station, is directly across the street.
Additional tenants include Bottega Louie, Ergo Baby, international architectural design firms of Perkins + Will, Altoon Partners and Taylor Fierce & Associates as well as the prestigious Chicago School of Professional Psychology. The ground floor houses a Walgreens with a pharmacy.
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