ETC Expands Presence in Downtown Los Angeles
Colliers Completes Five-Year Lease with Recent Signing
Electronic Transaction Clearing Inc. (ETC), one of the nation’s largest stock clearing houses, has again expanded its presence in downtown Los Angeles by signing a new five-year lease at the 660 South Figueroa Building in a transaction valued at approximately $2 million, Colliers International has reported.
Colliers Senior Vice President Nathan Pellow and Associate Tim Dwight, who specialize in representing office tenants throughout Los Angeles, represented ETC in its latest expansion. With the 3,000-square-foot expansion, ETC now occupies a total of 10,534 square feet in the architecturally distinct building at the intersection of South Figueroa and Seventh streets.
Founded in 2007 and headquartered in Los Angeles, ETC provides clearing services to a select group of securities industry professionals throughout the nation. Since its founding, the company has steadily expanded its presence at the 28-story building.
“We believe this marks another milestone for ETC as it continues to grow into one of the largest specialized trading firms in the nation,” said Pellow. “Although the transaction was a simple extension and expansion for ETC, it was a complex negotiation because we had to reach a deal during a change in the ownership of the building.”
Designed by architect A.C. Martin Partners, the building originally served as the headquarters for Home Savings & Loan and features a distinctive gabled roofline. On its subterranean levels, it houses the Seventh Street Metro Station where the Red and Blue transit lines meet. It also features a dramatic ceiling mural in its main lobby.