Transwestern Inks 21K SF Lease at LA’s AT&T Center

The Los Angeles office of real estate and development firm Transwestern said Thursday that it has arranged a new long-term lease with Ampco System Parking for 21,031 square feet of space in the AT&T Center, located at 1150 South Olive Street in the City of Angels’ downtown area.

March 18, 2010
By Allison Landa, News Editor

Courtesy Flickr Creative Commons user jerici cat

The Los Angeles office of real estate and development firm Transwestern said Thursday that it has arranged a new long-term lease with Ampco System Parking for 21,031 square feet of space in the AT&T Center, located at 1150 South Olive Street in the City of Angels’ downtown area.

Ampco, a subsidiary of ABM Industries, provides services and parking management to more than 1,800 office and multi-use parking operations nationwide. It will use the new space as one of its headquarter offices.

Transwestern executive managing director Jonathan Larsen and Transwestern vice president J.D. DeRosa represented Ampco, while Jeff Badertscher of LBA Realty and John Zanetos of CB Richard Ellis represented the landlord, LBA Realty.

When announcing the news, Larsen said that the current downtown Los Angeles office market is uncertain and that now is an ideal time for new and renewed leases. “There is no telling how long a tenant will be able to take advantage of the economic climate and its aggressive terms,” he said.

Formerly known as the SBC Tower, Transamerica Building, and Occidental Life Building, the AT&T Center stands 452 feet tall (32 floors) and is the 32nd highest building in Los Angeles. When completed in 1965, it was the city’s second tallest building. It is part of a 12-acre complex originally called Occidental Center which includes two other buildings as well as three parking decks. Underground pedestrian tunnels connect the buildings.