Why Corporate Tenants Are Heading Downtown

LOS ANGELES—For several years, Downtown Los Angeles has been running a campaign to attract a diverse collection of office tenants to move to the submarket. Now American Realty Advisors is responding to the call, moving its headquarters operations from Glendale to the Downtown market. This firm has leased the 49th floor of 515 S. Flower Street in the City National Plaza, and says that the new location will help it to achieve its growth goals and attract new talent.

“We have recognized the importance of being close to clients, partners and service providers, and the financial community overall,” Jay Butterfield, managing director of Fund Operations at American Realty Advisors, tells GlobeSt.com. “Downtown Los Angeles is more centrally located, and it will make us more attractive to potential employees coming to work closer to L.A.'s urban center. It also affords more commute and mass transit options for our employees than a mass transit option. That really ties back into our commitment for sustainable business practices.”

Downtown Los Angeles isn't the only growing L.A. office market that is looking to attract new tenants, but the firm felt that Downtown Los Angeles offered the best access to other financial institutions and public transit, and is the more recognizable to partners outside of California. “We had a lot of choices, and we really felt that Downtown Los Angeles is the center of the financial community in Southern California,” says Butterfield. “It is the most identifiable to people outside of the area as well, and it helps us to reinforce our image as an internationally recognized capital venture.”

American Realty Advisors has been growing, and the initial impetus for the move was simply that they needed more space. “Timing was right because we were looking to expand space,” adds Butterfield. “We were tapped out in our current space, and we are continuing to grow and add resources. 515 South Flower is a great location and we know the landlord, and we have a long relationship with them. The stars all aligned.”

Moving can be disruptive to a business, especially in Los Angeles where traffic patterns can significantly impact one's life, but the central location of the new office has been a benefit for the firm's employees. “We have employees located all around the greater Los Angeles area, and Glendale is great, but given traffic, it can be hard to get to,” says Butterfield. “The reaction has been almost universally enthusiastic, especially for our younger to mid career professionals. L.A. is a 24-hour market, and there are a lot of opportunities for them work easily but also the surrounding environment provides great cultural and entertainment amenities. That will really help us attract new professionals. It is a great location in the center of Los Angeles, and it is really convenient to all employees living in the center of Los Angeles.”

LOS ANGELES—For several years, Downtown Los Angeles has been running a campaign to attract a diverse collection of office tenants to move to the submarket. Now American Realty Advisors is responding to the call, moving its headquarters operations from Glendale to the Downtown market. This firm has leased the 49th floor of 515 S. Flower Street in the City National Plaza, and says that the new location will help it to achieve its growth goals and attract new talent.

“We have recognized the importance of being close to clients, partners and service providers, and the financial community overall,” Jay Butterfield, managing director of Fund Operations at American Realty Advisors, tells GlobeSt.com. “Downtown Los Angeles is more centrally located, and it will make us more attractive to potential employees coming to work closer to L.A.'s urban center. It also affords more commute and mass transit options for our employees than a mass transit option. That really ties back into our commitment for sustainable business practices.”

Downtown Los Angeles isn't the only growing L.A. office market that is looking to attract new tenants, but the firm felt that Downtown Los Angeles offered the best access to other financial institutions and public transit, and is the more recognizable to partners outside of California. “We had a lot of choices, and we really felt that Downtown Los Angeles is the center of the financial community in Southern California,” says Butterfield. “It is the most identifiable to people outside of the area as well, and it helps us to reinforce our image as an internationally recognized capital venture.”

American Realty Advisors has been growing, and the initial impetus for the move was simply that they needed more space. “Timing was right because we were looking to expand space,” adds Butterfield. “We were tapped out in our current space, and we are continuing to grow and add resources. 515 South Flower is a great location and we know the landlord, and we have a long relationship with them. The stars all aligned.”

Moving can be disruptive to a business, especially in Los Angeles where traffic patterns can significantly impact one's life, but the central location of the new office has been a benefit for the firm's employees. “We have employees located all around the greater Los Angeles area, and Glendale is great, but given traffic, it can be hard to get to,” says Butterfield. “The reaction has been almost universally enthusiastic, especially for our younger to mid career professionals. L.A. is a 24-hour market, and there are a lot of opportunities for them work easily but also the surrounding environment provides great cultural and entertainment amenities. That will really help us attract new professionals. It is a great location in the center of Los Angeles, and it is really convenient to all employees living in the center of Los Angeles.”