The county of Los Angeles has tentatively agreed to buy the Gas Company Tower, a prominent office skyscraper in downtown Los Angeles, for $215 million in a foreclosure sale. The price is a deep discount from its appraised value of $632 million in 2020, underscoring how much downtown office values have fallen in recent years.
Supervisor Janice Hahn expressed discomfort with the acquisition of the Gas Company Tower, highlighting concerns over understanding the full plan and moving County services away from Los Angeles' Civic Center.
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