Los Angeles, Calif. – Colliers is pleased to announce it has been awarded the exclusive leasing and property management assignment of Downtown Los Angeles’ EY Plaza, formerly Ernst & Young Plaza, at 725 S. Figueroa Street. The firm was retained by Gregg Williams of Trident Pacific Real Estate, who has been appointed Receiver. Serving as lead advisor for the receivership estate, Sean Fulp, Head of Office Capital Markets, U.S. Southwest is tasked with ensuring EY Plaza’s value is preserved despite the turbulent market conditions.
Joining Fulp are Colliers’ leading Los Angeles office agency leasing experts Vice Chair Matthew Heyn and Executive Vice President Ian M. Gilbert, who will oversee leasing efforts. Kevin Rude, Regional Managing Director of West Coast, and Tina Minook, Regional Managing Director of California Real Estate Management Services, will lead full-service property management.
“Underscoring the strength and collaboration of our integrated investor services of capital markets, leasing, and property management, this is yet another testament to the prowess of our talent,” says Ricardo Pacheco, Managing Director of the firm’s Los Angeles markets. “Colliers’ best-in-class service offerings, coupled with the multi-faceted expertise of our advisory, leasing, and management professionals, well positions us to deliver the strategy necessary for the success of such assets.”
Soaring 41 stories high, the 968,184 square-foot office tower, designed by world-class architectural firm SOM, has been a mainstay in the city’s Financial District since its completion in 1985.
“EY Plaza is one of the best office buildings in all of Los Angeles, and its value is worth protecting,” Fulp said. “We will not sit back and wait for the market to determine its fate. The building is now very well capitalized, and we have a highly skilled team of management and transaction professionals to ensure it remains one of the premier options for tenants in downtown LA.”
The assignment marks the firm’s second high-profile office tower takeover in under a month, an endeavor Ian M. Gilbert, who joined Colliers from Brookfield in April, is ideally suited to take on.
“The opportunity to lease EY Plaza is one we are immensely proud of,” he said. “Few office assets of this caliber exist in Downtown Los Angeles, and its rich history, open-air design, and highly-desirable walkability will prove advantageous for today’s tenant expectations.”
