Through office consolidation, America's largest publicly-operated health plan to maximize space
LOS ANGELES — L.A. Care Health Plan, the largest publicly-operated health plan in the country, announced today that it has signed a 370,000 square foot office lease at 1200 West 7th Street, a commercial office building owned and operated by Rising Realty Partners in Downtown Los Angeles. The lease will commence in 2024.
When the space is occupied, L.A. Care staff will be consolidated into one building offering more efficient collaboration among staff. L.A. Care currently leases space within 1200 West 7th, but the majority of its 2,000 employees are in offices a few blocks away.
"By consolidating all of our employees under one roof, we will see significant cost savings and improve collaboration," said John Baackes, L.A. Care CEO. "The 1200 building has a much more user-friendly floorplan that will let us operate in 63,000 fewer square feet and that will result in millions of dollars in savings each year."
Located just west of the 110 Freeway in Downtown Los Angeles, 1200 West 7th Street is centrally located, making it accessible to employees who use public transportation. The building offers 386,000 square feet of Class-A office space on nine floors, and also includes a 347,000 square foot data center, known as West 7 Center. It is one of the premier mission critical, telecommunications, co-location and data center facilities in the United States.
"L.A. Care ensures that all members of our community have access to quality health care," said Christopher Rising, Founder and Chief Executive Officer of Rising. "The L.A. Care team members who currently work at 1200 West 7th Street are wonderful people and we could not be more pleased that L.A. Care is consolidating its office space within our building. L.A. Care is truly one of the institutions that makes Los Angeles a great city."
The lease was brokered by Clay Hammerstein of CBRE representing L.A. Care and John McAniff of JLL representing Rising Realty Partners.