DTLA’s Gas Company Tower Goes on the Block in Receiver Sale

JLL Capital Markets has been retained by Gregg Williams, receiver of Trident Pacific, to market for sale The Gas Company Tower, a 52-story, LEED-Gold-certified office tower totaling 1,373,583 square feet at 555 W. Fifth St. in Downtown Los Angeles. The property was formally owned by an affiliate of Brookfield Asset Management Ltd. and is a receiver sale as part of the foreclosure proceedings.

The JLL Capital Markets Investment Sales and Advisory team representing the seller is being led by senior managing director Jeffrey Bramson, managing director Andrew Harper and director Will Poulsen.

“The sale of Gas Company Tower represents a generational investment opportunity to acquire a trophy asset at an exceptional basis,” said Harper. “While the office market has been challenged, we’ve seen a surge in demand for high-quality, top-tier assets such as 555 W Fifth St. that are located in vibrant mixed-use destinations like Bunker Hill.”

The property is currently 57% leased, with approximately 74% of the rent roll consisting of credit tenants including Deloitte, Southern California Gas Co., B. Riley, Arent Fox Schiff, Knol Latham & Watkins, ICF Consulting Group, Mirae Asset Global Investments and Starbucks.