Aon Center at 707 Wilshire Posts More Than 300,000 SF of Leasing, With Bank of Hope and California Bank & Trust Among Tenants

LOS ANGELES — Colliers and Carolwood announced on Oct. 28, 2026, that more than 300,000 square feet of leasing activity has been completed at 707 Wilshire Blvd., the Aon Center, in Downtown Los Angeles over the past two years. The firms said the activity reflects continued commitment from major tenants despite a selective leasing environment in the downtown office market.

Tenants include Bank of Hope, California Bank & Trust, The Sentinel Firm, APC, the Consulate General of India and Israeli Discount Bank (IDB), among others, according to the announcement. The commitments span professional services firms, financial institutions and corporate users.

Tenant Roster at the Aon Center

The Aon Center, located at 707 Wilshire Blvd. in Los Angeles (ZIP 90017), is a Class A office tower completed in the early 1970s. It is approximately 61 to 62 stories and contains roughly 1.21 million to 1.25 million square feet of office space. The property underwent a major renovation in 2009, and Shorenstein also renovated it in 2020.

The tenants named in the announcement are Bank of Hope, California Bank & Trust, The Sentinel Firm, APC, the Consulate General of India and Israeli Discount Bank. The announcement did not break out individual lease sizes or distinguish between new leases, renewals and expansions. The 300,000-square-foot figure represents roughly 24% to 25% of the building's reported area.

Carolwood's Ownership Approach

Carolwood acquired the building in December 2023 through a joint venture with Los Angeles-based principals Daniel Abrams and Adam Tischer. Earlier marketing for the roughly 1.1-million-square-foot tower reportedly sought about $220 million, or approximately $200 per square foot. A 2023 report said the tower was as much as 35% vacant during its marketing process.

Since the acquisition, Carolwood has pursued a hands-on ownership approach focused on convenience, service and workplace functionality, according to the announcement. Amenities include Croft Alley, the building's ground-floor restaurant, along with a fitness center, conference facilities, and a parking and valet program. The firms described these as part of a broader effort to improve the day-to-day workplace experience.

"Our goal has always been to create an office environment where tenants and their employees feel welcomed and supported," said Craig Gelfand, Head of Tenant Relations. "Every investment is intended to improve the tenant experience, and we're seeing that reflected in both tenant retention and new leasing activity."

Colliers Executives on Tenant Decision-Making

Colliers executives said tenants are making more deliberate real estate decisions. "One of the defining characteristics of the Los Angeles office market today is that tenants are more informed than ever," said Matthew Heyn, Vice Chair at Colliers. "The question is no longer whether companies will maintain an office footprint, but how they are positioning that footprint to support their business."

Ian M. Gilbert, Executive Vice President at Colliers, said: "The strongest-performing assets are often backed by owners with a clear vision and a long-term outlook. The volume of leasing activity at 707 demonstrates what can happen when ownership remains committed to the property and responsive to its tenants."

Leasing inquiries for the property are directed to Heyn and Gilbert of Colliers' Integrated Advisory Services Team.

Downtown Los Angeles Office Market Context

The leasing activity comes as Los Angeles office availability remains elevated. In the third quarter of 2026, Los Angeles direct office vacancy was 16.4%, with total vacancy including sublease space at approximately 17.7%. Cushman & Wakefield reported a higher overall vacancy of 23.2% for Greater Los Angeles, up 80 basis points year over year. The differing figures reflect variations in geography and methodology.

Rents have been comparatively stable. Kidder Mathews reported average Los Angeles asking rents of $3.50 per square foot per month, full-service gross, with Class A asking rents averaging $3.79 per square foot in the third quarter. Cushman & Wakefield reported a Greater Los Angeles average of $3.70 per square foot per month, up 2.8% year over year. NAI Capital said asking rents were essentially flat quarter over quarter and up 0.6% year over year.

Leasing activity has nonetheless improved. Savills reported approximately 4.0 million square feet of Los Angeles leasing activity in the third quarter of 2026, up 15% from a year earlier.

Outlook

The Aon Center's tenant mix includes banks, professional services firms, a diplomatic mission and corporate users, groups that typically require centrally located, client-facing office space. With market vacancy elevated and rents largely flat, the building's owner and its leasing advisers are emphasizing amenities, service and tenant engagement as the basis for competing with other Class A downtown properties.

Sources

• Colliers: ±300k SF Leasing Activity Reinforces 707 Wilshire's Position in a Selective Office Environment