KTGY Is First Tenant at Newly Renovated Trust Building in DTLA

Rising Realty and Lionstone bought the 91-year-old building in 2016 for $80 million.

Newly Renovated Trust Building in DTLA los angeles

 

Original Article Credit to Greg Cornfield for Commercial Observer

As the first tenant in the Trust Building since it has been renovated, KTGY Architecture & Planning is set to open its new headquarters in Downtown Los Angeles.

The architecture firm is relocating its current office in Playa Vista to a 15,730-square-foot space in the landmark Art Deco office building at 433 S. Spring Street. It is owned and was renovated by Rising Realty Partners and Lionstone Investments. The renovation was designed by Gensler.

Terms of the lease were not disclosed. KTGY expects to move in during the first quarter of next year.

Property records show the 340,000-square-foot building was purchased for $80.4 million in 2016. The historic property was completed in 1928 and opened as the headquarters for Title Insurance & Trust Company. It was designed by L.A.-based architects John and Donald Parkinson, who created the plans for the Memorial Coliseum, Los Angeles City Hall, and the Bullocks Wilshire. The Trust Building was designated as a Historic Cultural Landmark landmark in 2003.

Earlier this year, L.A. Care Health Plan signed a 370,000-square-foot lease at a different building owned by Rising Realty Partners at 1200 W. 7th Street, about one mile from the Trust Building. In January, in partnership with GreenOak Real Estate Advisors, the firm secured an $111-million loan to finance the 287,600-square-foot CalEdison office on Fifth Street about three blocks from the Trust Building. And in 2017, the firm purchased One California Plaza for $459 million with Colony NorthStar. 

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