Beginning in 2012, Industry Partners teamed up with Rising Realty Partners to reposition the historic PacMutual Building in DTLA to a creative office campus with ground floor retail. Built from 1908 to 1926, PacMutual is absolutely stunning inside and out. Between a comprehensive PR push, smart marketing materials, a “hands-on” approach to selective demolitions, construction of spec suites, and leveraging Industry’s relationships with non-traditional tenants and their brokers, the building has gone from 60% leased to over 90% and rents are on par with “Class A” DTLA high rises. The end result is DTLA’s most successful creative office project that is leading the DTLA creative market. Most notable tenants include online fashion brand Nasty Gal, architecture firm NBBJ, visual effects firm Magnopus, Tender Greens, and Le Pain Quotidien.
PacMutual was first purchased by Rising Realty Partners in 2012 for $60 million. In early September 2015, PacMutual sold for $200 million.