Uber signs 18K sf lease at Onni Group’s Times Mirror Square property: sources

Ride-sharing company said to be setting up offices at Los Angeles Times site

May.May 02, 2017 05:36 PM
The Times building (Getty Images)

Updated, Wednesday, May 3, 2017 at 10:44 a.m.: Ride-sharing company Uber is pulling into a spot inside the Times Mirror Square complex at the Times South building on 145 S. Spring Street, The Real Deal has learned.

The tech company recently signed a lease for an estimated 18,000 square feet, said sources with knowledge of the deal.

It is unknown whether the deal is a sublease or a direct lease. Both lease types have been signed this year inside the 243,749-square-foot building, CoStar shows.

Leasing agent Andrew Tashjian of Cushman & Wakefield declined to comment.

The San Francisco-based company is said to be valued at an estimated $70 billion, making it the highest-valued private tech firm. It recently signed a 52,350-square-foot lease last month at the Terminal Stores building in New York, adding nearly 12,000-square-feet of space.

The Times South building, built in 1935, is one of five buildings on the site.

Canadian developer Onni Group purchased the 750,000-square-foot Art Deco landmark campus for more than $100 million from Tribune Media, which spun off its print unit into Tronc Inc., formerly Tribune Publishing and parent company of the Los Angeles Times.

The Vancouver-based firm filed plans last year to redevelop the site. It proposed a 1,127-unit, two-tower development, The Real Deal previously reported.

The deal was first reported by the Los Angeles Times.

A previous version of the story incorrectly reported Tronc Inc. as the former owner of Times Mirror Square when it was Tribune Media.

Related Articles

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

Aerial view of 611 N. Brand Boulevard and Rossano de Cottiis (Credit: Hunter Kerhart Architectural Photography)

Onni scraps apartment plans for 857-key hotel project in Glendale