Class A, Downtown
Office Campus

200-281
S. Figueroa St.

Los Angeles, CA

OWNER:
Rising Realty Partners

SIZE:
280,000 SF building

TEAM
Nico Vilgiate
Kyle Stanich

INTRODUCTION
The Park DTLA is a Class A mid-rise office campus totaling 280,000 square feet (“SF”), located at the intersection of Bunker Hill and the Figueroa Corridor in Downtown Los Angeles.

CHALLENGE
In 2015, Rising Realty acquired this tired, five building campus perceived as a Class B professional service environment on the fringe of Downtown. With 75,000 SF of vacancy and outdoor areas largely unused, Colliers was tasked with integrating a marketing and lease up campaign with the several phases of campus wide repositioning.

STRATEGY/SOLUTION
>
Design market ready suites in the 2,000 SF - 5,000 SF range.

> Host broker open houses with music festival and golf tournament themes.

> Direct outreach to Downtown and out of town market tenants, with a focus on technology, fashion and new media.

> Film campus activity and in suite videos to capture the new indoor/outdoor work environments.

> Compose separate marketing campaigns for different campus amenities like 5x5 Telecom.

> Develop a website and social media presence.

RESULT
> Signed Class A, high-rise comparable leases on all spec suites (24% higher than previous ownership).

> Increased occupancy by 10%

> Justified the new position and reputation in the marketplace of creative office campus, a must stop by for all tenants seeking a modern workplace design.

> Established a now market wide recognized term, “Connectible Square Footage,” to portray the fastest and most customizable fiber packages indoors and out.

> Signed leases with technology companies, positively impacting the diversity and branding of the campus.

> Enhanced Rising Realty’s relationship with the brokerage community as a creative, lifestyle office expert.