Is The Los Angeles Times Moving From Its Home Of Over 80 Years?
The Los Angeles Times could be leaving its home of the last 82 years and moving across downtown to the Aon Center building, according to Urbanize LA.
Urbanize adds that, in May, the Times finalized a lease for 100,000-square-feet of office space at the Shorenstein Company-owned tower. The deal is said to include naming rights—Los Angeles Times Tower, anyone?
As The Real Deal claims, the Times, which is owned by parent company Tronc Inc., will not renew its 250,000-square-foot lease at the paper's current home, the Times Mirror building at Spring and 1st Streets, when it expires in the coming year.
In December, the Times noted that it had the option of two consecutive five-year renewals on its current lease, and had "no immediate plans" to relocate.
Then L.A. Times-owner Harry Chandler commissioned architect Gordon B. Kaufmann to design the Times Mirror building in the early 1930s, and construction wrapped up in 1935. The complex has seen two additions since, one in 1948, to add a 10-story structure, and another in 1973 added a large six-story structure designed by William L. Pereira along the northwest side of the complex.
In 2016, Canadian-based developers Onni Group bought the complex for $120 million. Onni recently announced plans for a pair of towers replacing the Pereira-designed addition. Meanwhile, the Tribune Media Company will be developing a 450-foot tower directly across the street from the Times Mirror building.