SAN FRANCISCO – May 24, 2012 – The Swig Company announced it has signed global architectural practice Altoon Partners (formerly Altoon + Porter) to a full floor lease — totaling 15,876 square feet — at 617 W 7th Street in downtown Los Angeles. The firm, which also has offices and partners in Amsterdam and Shanghai, will move from its current space at 444 S. Flower later this year.
617 West 7th, which The Swig Company purchased in January, is now 92% leased. Other tenants include Perkins + Will, The Chicago School of Professional Psychology and Glumac Engineering.
617 W 7th is situated in the city’s burgeoning South Financial District, a submarket which continues to attract firms seeking creative office environments offering open, efficient floor plans, high exposed ceilings, abundant natural light and interior brick walls. The area features numerous trendy restaurants, cafes, and retail shops with access to abundant and inexpensive parking. There is easy access to the 10, 110, 5 and 101 freeways as well as public transit such as LA Metro’s bus and LADOT’s DASH lines. The 7th Street Metro Center, the city’s largest Metrorail station, is directly across the street.
The 12-story building was constructed in 1923 as the original headquarters of the Union Oil Company. The building underwent a complete renovation in 2001, and now offers tenants state-of-the-art infrastructure with upgrades to the HVAC, elevator, and electrical systems. The building provides unlimited broadband, data service and a “decompression lounge” area for use by tenants. It also operates a fully wired, videoconference center and offers common area recreational amenities for tenants including game tables, a large screen television and a basketball court. Among the building’s unique architectural features are its stunning, historic lobby with gold leaf paneling and checkerboard floor.
The Swig Company’s portfolio currently includes commercial properties in California, New York, Texas and New Jersey. The company recently purchased 595 East Colorado Blvd, an 86,000 s.f. office building in Pasadena, and Southern California is one of the company’s key target markets for new acquisitions. Last month, The Swig Company was recognized by the Dallas Business Journal for its role in the long-term lease by Fossil Corp. of its corporate headquarters at 901 Central Expressway in Richardson, Tex., a property also owned by The Swig Company.
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 on behalf of its investors, providing investment, pro-active asset management and professional high quality property management services. For more information, please visit http://www.swigco.com