Los Angeles office skyscraper faces foreclosure sale
The Gas Company Tower in downtown L.A. was considered one of the city’s most prestigious office buildings when it was completed in 1991. In recent years the office market has turned against landlords. (Myung J. Chun / Los Angeles Times)
Roger Vincent
Los Angeles Times
March 28, 2024
Gas Company Tower, a prominent office skyscraper in downtown Los Angeles, faces foreclosure as landlords continue to struggle to keep tenants in their buildings.
A notice of trustee’s sale for the high-rise on Bunker Hill was filed March 21 with the Los Angeles County Registrar-Recorder/County Clerk, setting the stage for a foreclosure sale as soon as 90 days after the filing.
The sale may complicate plans by the city of Los Angeles to lease more than 300,000 square feet in the building. The city has been negotiating with the receiver in control of the property for months to sign what would be one of the region’s largest office leases of the year if it is approved by the City Council.
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