Accounting giant Deloitte has agreed to move its downtown Los Angeles office to nearby Gas Co. Tower in one of the biggest lease transactions of the year in Southern California.
Deloitte has agreed to rent 113,000 square feet in the skyscraper at 555 W. 5th St., landlord Brookfield Office Properties said.
Deloitte has already started building out its offices at Gas Co. Tower and plans to move in by the end of the year, Brookfield said.
It won't be a long trip. Deloitte now leases 276,300 square feet at Two California Plaza, where it has been since 2000, according to real estate data provider CoStar Group Inc. Both buildings are on downtown's Bunker Hill.
Terms of Deloitte's deal with Brookfield were not disclosed, but the New York-based landlord asks for about $2 per square foot a month for space in Gas Co. Tower, according to real estate brokerage Cassidy Turley.
Deloitte's logo will be placed atop the tower, making it the first tenant to have that coveted signage perch. The peak of the 50-story building has been plain since it was completed in 1991.
The consulting firm is a tenant in several other Brookfield properties, Brookfield Executive Vice President Bert Dezzutti said.
"Brookfield enjoys a long-standing relationship with Deloitte across the country and around the globe," Dezzutti said, "and is very pleased to have the opportunity to expand that relationship in Los Angeles."