The building in question is located on 801 South Grand Avenue, within the financial district, with the area the University has leased comprising over 20,000 square feet of Class A office space. Print companies in surrounding areas such as Torrance, could be used to promote the new campus throughout the Los Angeles area. The President of the University, William A. Covino, has told the Los Angeles Business Journal:
“We will bring the resources of Cal State L.A. to students downtown, where they work and live.”
The lease the university has signed has been valued independently by CoStar Group Inc. and the building is the property of the CIM Group. The estimate for the lease was that it was worth in the region of $6.7 million.
Much of the structure has already been rented to other tenants including the commercial business Finance One and the Girl Scouts of Greater Los Angeles.
The major campus of California State University, Los Angeles is located in close proximity to the new acquisition. It is situated less than five miles eastwards from the downtown building within University Hills.
The new campus has been given the task of coping with almost 25,000 students starting from next year. Get a Free Quote for Print