Designed by influential architect A.C. Martin, Union Bank Plaza is a Historic-Cultural Monument located in the Bunker Hill neighborhood of Downtown Los Angeles.
Designed by influential architect A.C. Martin, Union Bank Plaza is a Historic-Cultural Monument located in the Bunker Hill neighborhood of Downtown Los Angeles. The iconic 39-story, Class A high-rise office tower occupies an entire 3.68-acre city block and includes an expansive multi-level plaza, a retail component, a dedicated conference center, and a four-level parking structure with two subterranean levels. Originally constructed between 1965 and 1968, the property has undergone several renovations, most recently in 2019, and contains approximately 701,888 net rentable square feet across office, retail, and amenity spaces.
Washington Capital Management, Inc. engaged Partner to perform a comprehensive, equity-level due diligence scope in support of its acquisition of the property. Services included a Property Condition Assessment (PCA), Phase I Environmental Site Assessment, Seismic Risk Assessment, ALTA/NSPS Land Title Survey, and Zoning Report, with the PCA incorporating detailed evaluations by MEP, Building Envelope, and vertical transportation specialists. The ALTA survey documented property boundaries, access, easements, and site features, while the zoning report evaluated applicable zoning designations and regulatory context to support transaction due diligence.
Partner completed this multi-scope due diligence engagement with findings that identified no material environmental concerns, no mandatory seismic retrofit requirements, and no conditions that would preclude continued operation of the property, while documenting typical age-related building conditions to inform capital planning. Overall findings supported the client’s acquisition objectives by providing a clear, risk-informed understanding of the asset’s physical condition, environmental status, zoning context, and seismic performance.
Partner delivered this coordinated suite of due diligence services to support acquisition decision-making and future capital planning for this landmark Downtown Los Angeles asset.
