Description

311 South Spring Street is a 13-story office tower at Third and Spring Streets in downtown Los Angeles' Historic Core. Colliers is marketing the fee-simple interest in the 118,962-square-foot building. The offering identifies 77,222 square feet available immediately, with existing tenants providing interim income and a reported weighted average remaining lease term of 2.37 years.

U-shaped floor plates and frontage on two streets give an owner-user options for space planning, building identity and future expansion. The Civic Center, Grand Central Market, Broadway Theater District and several Metro lines are nearby.

A separate concept considers residential adaptive reuse: 112 apartments averaging 857 square feet, totaling 96,184 net rentable residential square feet, plus 8,827 square feet of retail. The broker identifies eligibility for the Downtown Adaptive Reuse Program and an existing FAR of 12.04 versus a 6.00 base FAR. Buyers should verify program eligibility, conversion design, retained density, approvals and costs. The residential concept is a possible business plan rather than a completed conversion.