May 17, 2019
Rising Realty Partners signed a 370,000-square-foot office lease with L.A. Care Health Plan at 1200 West 7th St. in DTLA, in what ranks as one of 2019’s biggest deals. The largest publicly-operated health plan in the country currently leases space at the 386,000-square-foot building, but the majority of its 2,000 employees are housed a few blocks away.
Rising’s Christopher Rising says, “The L.A. Care team members who currently work at 1200 West 7th Street are wonderful people, and we could not be more pleased that L.A. Care is consolidating its office space within our building.”
L.A. Care’s John Baackes says, “By consolidating all of our employees under one roof, we will see significant cost savings and improve collaboration. The 1200 building has a much more user-friendly floorplan that will let us operate in 63,000 fewer square feet and that will result in millions of dollars in savings each year.”
CBRE’s Clay Hammerstein represented the tenant. JLL’s John McAniff advised the landlord. The new lease will commence in 2024.
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