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.

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