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California  + Los Angeles  + Office  | 

LA County Pays $200M for the Gas Company Tower

JLL Capital Markets completed the $200-million sale of The Gas Company Tower, a 1.3-million-square-foot office tower at 555 W. Fifth St. in Downtown Los Angeles. Los Angeles County emerged as the buyer for the 53% occupied office tower, which JLL marketed on behalf of a CMBS trust that previously held the mortgage.

The seller was represented by a JLL Capital Markets Investment Sales and Advisory team led by senior managing directors Jeffrey Bramson, Sean Ryan and Tom Hall, managing director Andrew Harper and director Will Poulsen.

“The Gas Company Tower presented a tremendous opportunity to purchase a top asset in DTLA at pricing not seen in nearly 20 years,” said Bramson. “This transaction represents an important milestone in the DTLA office market as we are witnessing a reset of the market and anticipate increased transaction activity and pricing stability in 2025.”

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JLL's Bramson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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