Banc of California bets on downtown

Expansion to L.A. skyscraper will nearly double its office space and boost its presence.

- ROGER VINCENT

A PHOTO RENDERING of the L.A. skyline with the Banc of California's name on top of 865 S. Figueroa St.

(ADAMKAZ iStock.com)

Banc of California will raise its profile in downtown Los Angeles by putting its name atop a skyscraper and nearly doubling the size ofits offices.

The Los Angeles bank’s expansion comes at a time when downtown office landlords have been struggling with high vacancies since the COVID-19 pandemic prompted a shift to remote work for many businesses.

Banc of California has leased 40,000 square feet at 865 S. Figueroa St. and secured the rights to emblazon its name on top of the 35-story tower just north of L.A. Live, the bank recently announced.

“We moved our headquarters to Los Angeles two years ago because we believe in this city and in the power of the entrepreneurs and businesses that call it home,” Chief Executive Jared Wolff said.

The bank used to be based in Santa Ana and is now headquartered in Brentwood.