Downtown L.A. Gains Momentum with Banc of California Expansion
Banc of California is nearly doubling its downtown office presence with a new 40,000-square-foot lease. This move signals renewed corporate confidence in Los Angeles’ commercial core—a positive sign for property managers, service providers, and investors working to revitalize Downtown’s struggling office market.
What You Need to Know
Banc of California announced an 11-year lease at 865 S. Figueroa Street, expanding from its current 23,000-square-foot space in the nearby Figueroa at Wilshire building.
The new headquarters will feature signage visible throughout downtown—and potentially on global broadcasts during the 2028 Olympics—highlighting the bank’s commitment to Los Angeles’ urban business district.
The expansion comes as downtown continues to face high office vacancies, with roughly one-third of the Financial District’s office space currently unoccupied.
Despite market challenges, Banc of California joins a small but growing number of companies reinvesting in the area, signaling a potential shift toward renewed corporate interest in L.A.’s urban core.
How It Impacts You
For property managers and service providers, Banc of California’s expansion offers a much-needed signal of confidence in the downtown office market.
Increased corporate activity can help stabilize occupancy rates, attract new tenants, and spur investments in building improvements, maintenance, and surrounding amenities.
Visible corporate branding—especially ahead of the 2028 Olympics—also strengthens the perception of Downtown Los Angeles as a viable business destination, encouraging further investment and tenant retention.
As more firms evaluate their real estate strategies, this move may represent a turning point for L.A.’s post-pandemic commercial recovery.
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