The CalEdison Building at 601 W. 5th St. in downtown Los Angeles recently signed three new tenants: Digital advertising company TubeScience; furniture dealership Systems Source; and market researcher H&M Innovation Labs, according to a statement by building owner Rising Realty Partners.
TubeScience, which is relocating to downtown from Santa Monica, signed a full-floor lease of approximately 20,000 square feet. Irvine-based Systems Source is leasing around 12,000 of office and showroom space. H&M Innovation Labs, which does market research for the Swedish retailer, signed a lease for about 4,500 square feet of design office
Sources said the building commands some of the highest rates in downtown at more than $4 a square foot.
Carle Pierose and Rob Erickson of Industry Partners represented the landlord in each of the lease deals. Zacuto group's Andrew Sinasohn represented H&M.
The CalEdison, formerly known as One Bunker Hill, is a 14-story, 277,000-square-foot Art Deco landmark built in 1930 and renovated in 1993. Rising Realty Partners owns the building in a joint venture with Houston-based real estate investment firm Lionstone Investments. The CalEdison was renovated again following its most recent acquisition in 2015.
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.