Newmark Brokers 17,554-SF Full-Floor Office Lease at 445 South Figueroa in Downtown Los Angeles

Newmark has facilitated a 17,554-square-foot, full-floor office lease for Hathaway Dinwiddie Construction Company at 445 South Figueroa Street in Downtown Los Angeles, the commercial real estate services firm announced March 26, 2026. The tenant will occupy the entire 16th floor of Union Bank Plaza, a 40-story Class A office tower in the heart of the Central Business District.

Lease Details and Representation

Newmark Executive Managing Director David Kluth and Associate Director Mai Hu represented Hathaway Dinwiddie in the lease negotiations. John Zanetos and Chris Penrose of CBRE represented the landlord.

"This full-floor relocation to an upgraded and revitalizing 445 Figueroa represents a meaningful next step for Hathaway Dinwiddie as a long-standing tenant of downtown LA," Kluth said in a statement.

The transaction marks a relocation for Hathaway Dinwiddie, a construction firm with an established presence in the Downtown Los Angeles market.

About 445 South Figueroa

445 South Figueroa Street, known as Union Bank Plaza, is a 40-story skyscraper constructed in 1967 and standing approximately 515 feet tall. The building offers over 700,000 square feet of office space, complemented by a two-level retail center, a two-acre landscaped outdoor plaza, and ample parking. Its location provides direct access to the 110 Freeway and proximity to key transit options and amenities.

The property has achieved Energy Star certification and underwent substantial renovations. In late 2024, the property changed ownership when it sold for $80 million; Newmark facilitated the transaction on behalf of the seller and also represented the buyer, Washington Capital Management.

Downtown LA Office Market Context

The Downtown Los Angeles office market continues to show signs of stabilization, according to Newmark Research. Overall vacancy in the submarket stands at 25.1%, while trophy-class properties maintain a significantly lower vacancy rate of 13.6%.

Leasing activity is driven primarily by traditional industries such as law and finance, where firms are rightsizing into premium spaces amid increasing lease terms and reduced sublet availability, which has reached its lowest level since 2020, according to Newmark Research.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm offering services across the property life cycle. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners operated from approximately 175 offices with over 9,300 professionals across four continents.