The Swig Company And Bottega Louie Restaurant & Gourmet Market Execute Lease In Downtown Los Angeles

Los Angeles, Calif.— CBRE announced that it has arranged a 19,886 RSF office lease on behalf of The Swig Company in Downtown Los Angeles. The Swig Company and Bottega Louie, a gourmet restaurant, market and patisserie, completed a 15-year lease transaction at 617 West 7th Street that will expand the tenant’s operations in Downtown Los Angeles.  This lease represents a new location and will include an expanded space that will house a state of the art pastry kitchen, test kitchen and chocolate confectionary kitchen, as well as training facilities, conference rooms, design studios and corporate offices.

The 12-story office building is located on 7th Street in the heart of Downtown’s Restaurant Row, a district that has launched many of Los Angeles’ best restaurant destinations including Bottega Louie. The building sits on the route for the recently approved Streetcar allowing access from the Central Business District to the Historic Core.

CBRE’s John Zanetos, Mark O’Brien and Christopher Penrose, Jr. represented The Swig Company. Bottega Louie was represented by Adam Tischer of Colliers International.

617 West 7th Street was originally developed to serve as the world headquarters for the Union Oil Company of California in 1928.  The fully renovated building contains 211,000 RSF of modern, updated, creative office space including a complimentary tenant recreation center with a basketball court and a state-of-the art conference room which features internet access, video conferencing capabilities and a 50” plasma screen.  The building currently has suites available from 2,200 RSF and can offer two contiguous floors of creative space totaling 32,484 RSF.

“This transaction validates the appetite for office tenants that desire a creative environment in an architecturally significant building, as well as successful growth of Restaurant Row,” said Mr. Zanetos. “Bottega Louie’s growth exemplifies Downtown’s ability to attract and create talented brands and organizations.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue).  The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

About The Swig Company
The Swig Company, LLC, headquartered in San Francisco, is a private investment company with a 75-year history of investment, re-positioning, development and management of commercial real estate properties in major gateway, coastal markets throughout the United States. The Company’s diversified portfolio includes urban office buildings and multi-family apartments. The Company no longer invests in hotels. The Swig Company pursues a moderate growth strategy and co-invests with like-minded investment partners in supply-constrained urban environments. The Swig Company is the active day-to-day manager for its California portfolio on behalf of its investors, providing investment, pro-active asset management, redevelopment, selective development and professional high quality property management services. For more information, please visit www.swigco.com.

West Coast Commercial Real Estate News