The Real Deal Los Angeles

Circa opens for leasing with $24K penthouses

The two-tower project in South Park has units up to 4,000k sf
By Dennis Lynch | June 18, 2018 05:00PM

Hankey Investment Company president Scott Dobbins in a Circa model kitchen at its leasing office and a photo of Circa’s LED screens (Credit: Hunter Kerhart and StandardVision, LLC)

Apartments at South Park’s $500 million Circa development are officially up for grabs and the rates are nothing to shake a stick at.

Greystar Real Estate Partners is leasing the 648 units at Circa for rents ranging from $3,000-per-month for one-bedroom units to $24,000-per-month for penthouses. The project will include one-bedroom, two-bedroom, and penthouse units ranging from 600 to 4,000 square feet.

Greystar will work from a leasing office on S. Grand Avenue that shows off some of the high-end finishes at the two-tower project, located a few blocks away at 1200 S. Figueroa Street. A September move-in is expected.

Circa is a joint venture of Jamison Services, Hankey Investment Company, Falcon California Investments, and Highlands Capital. The 35-story project includes 48,000 square feet of ground-floor retail below seven levels of parking topped by an amenity deck, and 27 stories of apartments.

Those seven stories of parking include the development’s most recognizable feature — 18,000 square feet LED screens that wrap around the building at the corner of 12th and Figueroa streets.

Circa is well-positioned in an increasingly desirable neighborhood near L.A. Live, the Staples Center, and the L.A. Convention Center. But some 7,000 units are expected to hit the market in the next two years, which could make Circa’s ultra-high-end units harder to lease.