Developer Robert Maguire, known for Downtown LA towers, dies at 86

Prolific builder put up U.S. Bank Tower, other prominent office projects

Los Angeles /
May.May 20, 2021 10:20 AM
Robert F. Maguire III (Getty)
Robert F. Maguire III (Getty)

Prolific Los Angeles developer Robert F. Maguire III died Tuesday at his home in Studio City.

Maguire was 86 and died of complications from pneumonia, according to the L.A. Times.

His most prominent project was the U.S. Bank Tower, the tallest building in L.A. from 1986 to 2010. The 73-story Downtown tower sold to Silverstein Properties last July for $430 million.

Maguire was born in Portland, Oregon, in 1935 and relocated to L.A. to study at UCLA, where he graduated in 1960. He got his feet wet in real estate at Security Pacific National Bank and started his own firm in 1965.

His company first developed residential and industrial projects and broke into the office business with Century City’s Northrop Building in 1968.

Maguire’s career went into overdrive in the early 1980s when he formed Maguire Thomas Partners with Jim Thomas. It would become one of the nation’s largest office developers with projects in Southern California, Philadelphia, Dallas and elsewhere.

The firm was integral to the resurgence of Downtown L.A.’s Bunker Hill neighborhood as a commercial center, which the city had pushed for since the 1950s.

The developer completed the two-tower, 2.5-million-square-foot Wells Fargo Center in 1983 and seven years later completed the U.S. Bank Tower. In 1991, the firm completed the Gas Company Tower.

The development of those buildings was made possible by the purchase of air rights from the Central Library, which was badly damaged in a fire and set for demolition. The $125 million deal helped preserve and restore the property.

In 2008 Maguire left the company, which was acquired by Brookfield in 2013. He continued to develop properties however, including the Water’s Edge campus in Playa Vista.

[LAT] — Dennis Lynch 


Related Articles

arrow_forward_ios
VMware’s Raghu Raghuram and Broadcom’s Hock Tan with 3401 Hillside Drive and 250 Innovation Drive (VMware, Broadcom, Google Maps)
Broadcom’s offer for VMWare sets stage for office consolidation
Broadcom’s offer for VMWare sets stage for office consolidation
TCW's David Lippman with and the City National Plaza at 515 S. Flower Street (David Lippman, City National Plaza)
TCW inks largest pandemic-era office lease in DTLA
TCW inks largest pandemic-era office lease in DTLA
Joel Schreiber and 801 South Broadway (Google Maps)
WeWork’s first investor in grind on DTLA’s Broadway Trade Center
WeWork’s first investor in grind on DTLA’s Broadway Trade Center
 1933 South Broadway (Loopnet, iStock)
Ara Tavitian scores $150M refi on The Reef in DTLA
Ara Tavitian scores $150M refi on The Reef in DTLA
GI Partners' Rick Magnuson and One Wilshire (GI Partners, One Wilshire)
Here’s how much tenants are paying at One Wilshire in DTLA
Here’s how much tenants are paying at One Wilshire in DTLA
Coretrust Capital Partners' Thomas Ricci, Randall Scott and John Sischo; 444 S. Flower Street, Los Angeles (444 South Flower, iStock, Coretrust Capital Partners)
Coretrust leases 44K sf of offices to law firms in DTLA
Coretrust leases 44K sf of offices to law firms in DTLA
Kilroy Realty CEO John Kilroy (Getty, Kilroy Realty)
Kilroy Realty sees jump in profit despite dip in leases
Kilroy Realty sees jump in profit despite dip in leases
Hudson Pacific’s Chris Pearson and CBRE’s Lewis Horne (Hudson Pacific, CBRE, iStock)
Hudson Pacific, CBRE eye West Coast hubs with impact fund for women, ethnic minorities
Hudson Pacific, CBRE eye West Coast hubs with impact fund for women, ethnic minorities
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...