"Banc of California's growth in downtown Los Angeles follows recent expansions in Beverly Hills and New York City. In June, the bank moved its corporate office in New York to a prominent location on Park Avenue. In March, it expanded its corporate office in Beverly Hills with signage atop a 12-story building at 9701 Wilshire Blvd. on the corner of Roxbury Drive."
"Prominent signs on its office buildings are important to the bank, a representative said, in part because the downtown tower will be visible during the 2028 Olympics and perhaps be part of skyline backdrops during coverage of the event. About a third of the office space in downtown's financial district is vacant, according to real estate brokerage CBRE, about the same as it was a year ago."
Banc of California leased 40,000 square feet at 865 S. Figueroa St., securing rights to place its name atop the 35-story tower and planning a move by the end of summer under an 11-year lease with undisclosed financial terms. The bank currently rents nearly 23,000 square feet nearby and will nearly double its downtown footprint. Headquarters relocated to the Los Angeles area two years ago and recent moves include prominent corporate offices in Beverly Hills and New York City. Prominent signage aims to boost visibility during the 2028 Olympics. Downtown financial-district office vacancy remains about one-third.
#commercial-real-estate #corporate-expansion #signage-and-branding #downtown-los-angeles-office-vacancy
Read at Los Angeles Times
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