Banc of California inked a new office lease that will prominently place its name and logo over downtown L.A.’s skyline.
The bank signed a 11-year lease for 40,000-square feet of office space in downtown’s Financial District. The deal gave the bank the rights to place its name on top of a 35-story skyscraper located at 865 S. Figueroa St., and it places its upcoming offices a block away from L.A. Live.
Jared Wolff, chairman and chief executive officer of Banc of California, said the move was a vote of confidence in the city of Los Angeles.
“Expanding our presence in downtown demonstrates how committed we are to serving the greater L.A. market and how proud we are to be part of this community,” Wolff said in a statement.
The bank will move into its new downtown space during the third quarter of 2026. Some of the operations to be housed at the new offices will include commercial banking, middle-market banking, IT, specialty banking, financing and accounting.
A CBRE Group Inc. report on the downtown office market showed the total vacancy rate was at 33.3 % during the third quarter of this year, slightly higher than 32.8% during the third quarter of 2024.
Banc of California’s downtown offices are currently located at 601 S. Figueroa St. The bank’s lease for that space started in 2010, which was inked by The Private Bank of California. In 2013, Private Bank merged with Pacific Trust Bank. Their holding company, First PacTrust Bancorp Inc., rebranded to Banc of California.
Banc of California also inked a lease in Beverly Hills earlier this year. In March, the company announced that it leased more than 16,000-square feet at 9701 Wilshire Blvd. in Beverly Hills. It also installed a sign with its company logo on the rooftop of that building.