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Bank of America Signs Renewal, Expansion Totaling 222,000 SF on Hope Street

February 2, 2018
Bank of America renewed its existing lease and expanded into an additional 54,000 square feet, bringing its total occupancy in the Bank of America Plaza tower at 333 S. Hope St. in Los Angeles, CA to 222,042 square feet.

Bank of America will relocate offices from other downtown Los Angeles properties in an effort to consolidate its various banking and finance branches to one location.

The 55-story, 1.43 million-square-foot, 5-Star building was originally built in 1974 on 4.2 acres at the southeast corner of W. 3rd and S. Flower Streets in the Greater Downtown submarket. The asset was renovated in 2009, and today is 93 percent occupied by multiple tenants including Alston + Bird LLP, Kirkland & Ellis, The Capital Group Companies, Cooperative of American Physicians Inc. and Sheppard Mullin Richter & Hampton LLP.

Brookfield Office Properties owns the asset following a $7.2 billion, multi-state bulk portfolio acquisition with joint-venture partner The Blackstone Group. Trizec Properties Inc. was the seller in the October 2006 sale that valued the building at nearly $463.67 million, or about $324 per square foot, according to CoStar data.

John Barganski and James Malone with Brookfield represented the landlord in-house. Troy Freeman, Adams Mars, Tony Morales and Maureen Hawley of JLL represented Bank of America in lease negotiations.

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