The steady pace of development and redevelopment in Downtown L.A. played a role in bringing the new tenant to the 41-story Ernst & Young tower, according to Anthony Manos, SVP for the Southern California region at Trizec Properties. Manos says that new entertainment, retail and residential developments are "appealing to companies seeking an environment that is employee-friendly."

Worldwide Facilities Inc. was represented by Alec Feinstein of First Property Realty Corp., with Trizec represented internally by John Barganski, VP of leasing. Worldwide Facilities, founded in 1970, is one of the largest independent wholesale insurance brokers in the Western US.

Terms of the lease were not disclosed. Recent market reports peg the average asking rate for class A office space in Downtown Los Angeles at about $2.80 per sf per month, full service.

Ernst & Young Plaza, built in 1985, was designed by Skidmore, Owings & Merrill to occupy a 2.5-acre plaza at Seventh and Figueroa streets. It includes an on-site retail center, a fitness facility, auto detailing and service, a corporate concierge and a number of service businesses.

The 1.2 million sf at Ernst & Young Plaza comprises 915,000 sf of office space and the rest retail. The property was one of the earliest and largest modern mixed-use developments to be completed in Downtown Los Angeles.