Historic Herald Examiner Building Reopens in DTLA

The Georgetown Company and Arizona State University, establishing its first center in California, have collaborated to redevelop and reopen the historic Herald Examiner Building in downtown Los Angeles. The Georgetown Company and ASU partnered with architectural firm Gensler to transform the iconic building.

The reopening follows an $80 million investment to restore the 1914 building designed by architect Julia Morgan to its former grandeur. The 100,000-square-foot property, originally built as the headquarters for William Randolph Hearst’s Los Angeles Herald Examiner newspaper, features arched windows, sawtooth skylights, hand-painted floor tiles and other historic finishes.

Arizona State will occupy more than 85,000 square feet with more than 20 different units including the university’s Walter Cronkite School of Journalism and Mass Communication, the Sidney Poitier New American Film School and the Thunderbird School of Global Management. Ultimately, the building will host more than 500 ASU students, teachers and other employees for classes and activities each day.

“The connection between California and the state of Arizona has been thriving for many years and is growing stronger as the southwest region of the country continues to grow in diversity and to attract investment and economic expansion,” said Michael Crow, ASU president. “It is not by accident that we choose to be in downtown Los Angeles in a historic building that has been a point of origin for transformation. We intend to have a positive impact on those who seek the opportunities associated with higher education and that work is just beginning.” 

The Georgetown Company purchased the building in 2015 in anticipation that the neighborhood was on the verge of a resurgence. That’s exactly what occurred with new stores, restaurants, offices and hotels opening as well as USC’s new downtown LA campus nearby. A new Apple store and the Proper Hotel all now call the neighborhood home.

In addition to being the major tenant in the building, ASU is also an investor in the property through its real estate investment arm University Realty. Arnold Schwarzenegger and LeBron James are also part owners of the building through Main Street Advisors, Paul Wachter’s Santa Monica investment advisory firm.

The Herald Examiner Building is now almost fully leased with just two remaining ground-floor retail/restaurant spaces available. Carl Muhlstein of JLL and Matthew Fainchtien of Cushman & Wakefield represent The Georgetown Company’s leasing efforts for the property.