Torrance-based Chinatrust Bank will be relocating their US corporate headquarters to the 801 Tower (tower topped with ?green crown?) in Downtown LA by mid-2013
In a story published on the LA Times yesterday, it is now confirmed that Torrance, CA-based Chinatrust Bank USA will be relocating their US corporate headquarters to Downtown LA at 8th and Figueroa. The article states that ?Chinatrust?s decision to move to downtown L.A. is part of a recent trend for businesses to relocate their main offices to the financial center, reversing the exodus of previous decades.?
Chinatrust Bank will be moving into the 801 Tower owned by the Mani Brothers Real Estate Group, which is also where the?new Soleto restaurant?opened on the ground floor this past summer. With a 10-year lease and approximately 40,000 square feet of space, the new office will have 175 employees and occupy the 22nd and 23rd floors (801 Tower is 24 floors tall underneath the jade colored ?glass crown?). Chinatrust will have building signage installed on top of the tower according to the LA Times article. Plans call for moving in by mid-2013.
In a city known more for confusing sprawl and a ?lack of an urban center,? Downtown LA has been on a winning streak over the last several years attracting new prominent companies back into The City including architectural firms Gensler and SAA as well as global consulting giant Towers Watson. In a term I like to call ?urban consolidation,? many companies are ditching suburbia for the energetic urban environment of Downtown LA that?s transit-rich, walkable, and highly conducive to professional networking. Downtown LA is once again on the right track to becoming that strong urban center Los Angeles sorely lacked and desperately needed.
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