Los Angeles –– CBRE announced that East West Bank signed a new lease for more than 11,000 square feet in Downtown Los Angeles. The financial institution will occupy the ground-floor retail space as well as the top office floor.
CBRE’s Ryan Phillips, Chris Caras, Phillip Sample, Phil Hauspurg and Brad Chelf represented the landlord, Livingstone LA, LLC. Newmark’s Norman Lee represented East West Bank in the Transaction.
The bank is moving into the renamed East West Bank Plaza — formerly known as Chase Plaza – at 888 W. 6th Street. East West signed a 10-year lease for the ground-floor retail space, relocating its One Wilshire branch, in addition to leasing the entire top floor office. As part of the transaction, East West Bank received building signage and naming rights.
“We are pleased to bring a top-tier institution such as East West Bank to fill the recently vacated space, and also welcome them as the newest office tenant taking the top floor of the property,” said Phillips. “In the midst of this challenging retail and office market in Downtown Los Angeles, we see this transaction as a homerun for our client and a likely indicator of future growth in this area.”
