A new rail transit team overseen by the Los Angeles County Metropolitan Transportation Authority has subleased space in a prominent downtown Los Angeles office tower.
The group working on the proposed Westside subway extension and regional connector through downtown Los Angeles has taken 41,628 square feet of space at 777 S. Figueroa St. in a sublease with insurance broker Marsh USA.
The sublease is valued at an annual price of about $1 million, or $24 per square foot, according to real estate brokerage Studley, which represented the tenant in the deal. The agreement may last as long as seven years....
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