Union Bank Plaza
445 S. Figueroa Street, Los Angeles, CA 90071
Union Bank Plaza (UBP) is an iconic office tower located at 445 South Figueroa Street in the northwest quadrant of the Bunker Hill submarket in downtown Los Angeles. The project consists of the 677,055-square-foot office tower, a two-level 24,833-square-foot retail plaza and a 914-space, four-level parking structure (providing a ratio of 1.5 spaces per 1,000 square feet).
The property demonstrates a very high historical occupancy level, with some of the existing tenants (including the anchor tenant, Union Bank) having been in occupancy since the building was completed more than 40 years ago. Designed by A.C. Martin, the 40-story office tower was constructed in 1967 and has been institutionally owned and maintained for most of its life. The property is named for its anchor tenant, Union Bank, N.A., which has had a presence in the building since its completion.
Investment at a Glance
Location: Los Angeles, CA
Property Type: Class A Office
Acquisition Date: September 15, 2010
Purchase Price: $208,000,000
No. of Buildings: 1
No. of Stories: 40
Square Footage: 701,888 SF
Year Built: 1967
Leased Percentage (at the time of Acquisition): 95.6%