Published 1 month ago

Los Angeles office skyscraper faces foreclosure sale

Summary by Ground News

The foreclosure comes as the value of office buildings has plunged amid higher vacancies. The sale may complicate plans by the city of Los Angeles to lease more than 300,000 square feet in the building. The 52-story Gas Company Tower at 555 W. 5th St. was widely considered one of the city's most prestigious office buildings.

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Los Angeles Times

Los Angeles office skyscraper faces foreclosure sale

The foreclosure comes as the value of office buildings has plunged amid higher vacancies. Elevated interest rates have also weighed on prices and made it difficult for building owners to refinance debt.

1 month ago·Los Angeles, United States

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