LA County Pays $200M for the Gas Company Tower

 JLL Capital Markets completed the $200-million sale of The Gas Company Tower, a 1.3-million-square-foot office tower at 555 W. Fifth St. in Downtown Los Angeles. Los Angeles County emerged as the buyer for the 53% occupied office tower, which JLL marketed on behalf of a CMBS trust that previously held the mortgage.

The seller was represented by a JLL Capital Markets Investment Sales and Advisory team led by senior managing directors Jeffrey Bramson, Sean Ryan and Tom Hall, managing director Andrew Harper and director Will Poulsen.

“The Gas Company Tower presented a tremendous opportunity to purchase a top asset in DTLA at pricing not seen in nearly 20 years,” said Bramson. “This transaction represents an important milestone in the DTLA office market as we are witnessing a reset of the market and anticipate increased transaction activity and pricing stability in 2025.”