While the Los Angeles office market still hangs in uncertainty as many companies shift to hybrid and remote work methods, several prominent Los Angeles buildings remain up for sale. One of these buildings is the historic Trust Building, a 334,366 square foot building in downtown Los Angeles.
The property, which is located at 433 S. Spring Street, is listed by Cushman & Wakefield, which did not share guidance pricing for the property. However, the current owner Rising Realty Partners acquired the building in 2016 for $80.4 million, according to public documents.
The Trust Building is an 11-story Art-Deco building in downtown Los Angeles’ Historic Core. The building was originally constructed in 1928 to serve as the headquarters of the Title Insurance and Trust Company, which occupied the building until 1977.
In 2020, the property was restored by its current owner to include redesigned storefronts, tall ceilings, private balconies, a rooftop deck, a private gym and more. The property is currently home to several tenants, including architecture firm KTGY.
Located in downtown Los Angeles, the property is situated near a number of retail and dining amenities as well. The Trust Building is also immediately across from Spring Street Park and a short walk from Pershing Square.
“Currently envisioned as a creative office building and leased to three tenants, The Trust represents a one-of-a-kind value-add opportunity to complete the vision set out by current ownership, or repurpose the Art Deco building for another use,” the listing states.
Rising Realty Partners was founded in 2012 in Los Angeles, with additional offices in Sacramento, Denver, Las Vegas, Houston and Kansas City. Currently, the company manages five million square feet of commercial real estate totaling approximately $1.5 billion.
