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Unpriced
Asking Price (Sale)
968,745 SF
Square Feet
61%
Occupancy
5.34 Years
WALT
41
Stories
1.13/1,000 SF
Parking Ratio
Description
Colliers is pleased to present the opportunity to acquire the $275 million non-performing loan (the “Loan”) secured by the fee simple interest in 725 S. Figueroa Street, also known as EY Plaza (the “Property” or “Collateral”), in downtown Los Angeles, California.
Totaling 968,745 rentable square feet and currently 61% leased to 27 tenants, EY Plaza is one of downtown Los Angeles’ iconic Class A office towers. The Property is an extremely efficient rectangular-shaped building with significant residual value in the existing improvements. Over 150,000 square feet of the space available to lease today (16% of the building) requires less than $40 per square foot in tenant improvements, allowing investors to better control capital expenditures when leasing up the building, which is ideal in today’s office leasing environment.
EY Plaza was the first building constructed in a full city block development that began in the early 1980s and only recently finished in 2023 with the development of The Beaudry, a brand new 785-unit luxury multifamily building. This project is unique in DTLA as it creates a full live-work experience having the heavily trafficked 330,000-square-foot FIGat7th retail center at the base, two office buildings on either side, including EY Plaza, and the new luxury apartment building in the middle.
This sale offers investors the opportunity to acquire this non-performing loan at a massive discount to note balance, historic trades in DTLA going back decades, and estimated replacement cost of over $750 per square foot.
Totaling 968,745 rentable square feet and currently 61% leased to 27 tenants, EY Plaza is one of downtown Los Angeles’ iconic Class A office towers. The Property is an extremely efficient rectangular-shaped building with significant residual value in the existing improvements. Over 150,000 square feet of the space available to lease today (16% of the building) requires less than $40 per square foot in tenant improvements, allowing investors to better control capital expenditures when leasing up the building, which is ideal in today’s office leasing environment.
EY Plaza was the first building constructed in a full city block development that began in the early 1980s and only recently finished in 2023 with the development of The Beaudry, a brand new 785-unit luxury multifamily building. This project is unique in DTLA as it creates a full live-work experience having the heavily trafficked 330,000-square-foot FIGat7th retail center at the base, two office buildings on either side, including EY Plaza, and the new luxury apartment building in the middle.
This sale offers investors the opportunity to acquire this non-performing loan at a massive discount to note balance, historic trades in DTLA going back decades, and estimated replacement cost of over $750 per square foot.
Offering Summary
Asking PriceUnpriced
Property TypeOffice
Size968,745 SF
Occupancy61%
Built1985
Parking1.13/1,000 SF
Sale Details
WALT5.34
Market Rents0
Documents
Property Address
Property Details
Property TypeOffice
Square Feet968,745 SF
Stories41
Year Built1985
Load Factor.00%
Year Renovated0
Parking Ratio1.13/1,000 SF
Zoning[HB5-SH1-5] [CX4-FA] [CPIO]
APN5144-009-085/094/096
