Lockton Relocates Pacific HQ to 777 Tower in DTLA
Insurance broker Lockton has signed a lease for 70,000 square feet on the top floors of 777 South Figueroa Street, also known as the 777 Tower, according to a release from JLL, which represented the firm in the transaction.
Lockton, the largest privately held independent insurance, is relocating its Pacific operation from similarly sized space at the Ernst & Young Plaza at 725 South Figueroa Street to 777 South Figueroa Street, both owned by Brookfield Office Properties.
The company will relocate to its 70,000-square-foot on floors 41, 48, 49 and the top floor of the 52-story building in February of next year. The firm is relocating there after 20 years at Ernst & Young Plaza to “create a smarter, more collaborative workplace in a way that was most cost-effective and least disruptive to Lockton associates, including their commuting and parking,” Nate Mundy, the COO of Lockton Pacific Operations, told Commercial Observer.
JLL declined to disclose any further lease details.
Christina Noonan, Tony Morales and Maureen Hawley of JLL represented Lockton in the lease. The landlord, Brookfield Office Properties, was represented in-house by John Barganski, Marin Turney, Rachael Zanetos and Ian Gilbert.
Brookfield and JLL did not return a request for comment as of pres time.
“Brookfield continues to be an outstanding adviser to Lockton,” Tim Noonan, the CEO of Lockton’s Pacific operations, said in the release. “It is well positioned to not only accommodate our space requirements but to help us realize our vision for a more adaptable, progressive workplace. Given the shifting landscape of today’s office use, the flexible, technology-centric design of our new Los Angeles office will foster greater connection, collaboration and innovation, which are key tenets of Lockton’s entrepreneurial culture.”