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"Silicon Beach" aside, is L.A.'s tech scene about to shift east?
As reported at the Real Deal, the San Francisco-based Uber has signed a lease for an estimated 18,000 square feet at the Times South building that's in the Times Mirror Square complex on 145 S. Spring Street.
The space, as you may know, houses the Los Angeles Times. As explained by the Los Angeles Conservancy, the complex is actually comprised of five interconnected structures that were built between 1935 and 1973. The Times South building, designed in the Moderne style to fit in with existing structures, was erected in 1948.
The complex was sold to Onni Group, a Canadian developer, in September of 2016, reports the L.A. Times. The firm announced intentions of turning the property into a mixed-use space, with the possibility of professional offices, retail shops and residential units. As of late 2016, it was still unclear if the L.A. Times would be staying in the building. “The Los Angeles Times has a long-term lease in place with options to renew and no immediate plans to move,” a spokeswoman for the paper’s owner, Tronc Inc, told the Times. According to Curbed LA, Omni has plans to redevelop the site with a pair of high-rise towers—the Times South building, as well as two other structures, will not be touched during the construction.
The Real Deal reports that Uber also signed last month a 52,350-square-foot lease in New York, so it looks like the company is intent setting up offices in all the major hubs.
Uber has been going through some precarious times, to say the least. CNN Money reported that the company lost $2.8 billion last year. This comes amid a series of personnel changes. Recent departures include Jeff Jones, Uber’s president of ride sharing, Brian McClendon, vice president of maps and business platform, and Raffi Krikorian, a director in the self-driving division. Also, last month, Apple's Tim Cook reportedly chastised Uber CEO Travis Kalanick for violating Apple's privacy rules.
