Workspace Strategy Leader PeopleSpace Extends Lease At FourFortyFour In Downtown LA

Jul 12, 2021

LOS ANGELES, July 12, 2021 -- PeopleSpace, an industry leader in workspace strategy, office furnishing solutions, and custom architectural products, has extended its lease on the full floor it occupies at FourFortyFour South Flower Street in downtown Los Angeles until 2031. Concurrently PeopleSpace is transforming its Customer Experience Center in the space, allowing visitors to experience productive workspace design ideas and inspiration. The space also will serve as a collaborative working lab for designers, clients, and staff as well as a spacious venue for industry events.

"PeopleSpace is on the cutting edge of workspace strategy and design, and FourFortyFour validates our brand," said Jesse Bagley, Founder, and CEO of PeopleSpace. "We are known for creating environments that improve the well-being, culture, engagement, and retention of employees, and FourFortyFour as a worldwide healthy building leader underscores these values."

FourFortyFour was cited in April 2021 as the first office tower globally to earn the Tier 2 UL Verified Healthy Building Mark for its indoor air and water quality.

"PeopleSpace is recognized for creating dynamic workspaces for leading companies and organizations. To have this stellar firm bank its future on FourFortyFour strongly reinforces our decision to invest in state-of-the-art technology and superior operational techniques to keep our tower at the forefront of premier office properties," said Thomas S. Ricci, managing principal, and co-founder of Coretrust Capital Partners, owners of FourFortyFour. "Few office buildings, if any, have committed wholeheartedly to ensuring the health, well-being, and safety of tenants as we have."

Haworth, the global office furniture manufacturer, and a partner of PeopleSpace, also has its Los Angeles showroom on an entire floor at FourFortyFour, notes Ricci. "We at Coretrust are absolutely delighted that these acclaimed thought leaders in office design and workplace solutions selected FourFortyFour as their Los Angeles base," he added.

The PeopleSpace floor is adjacent to two new outdoor garden terraces recently completed by Coretrust, Bagley points out. "Being able to directly access these outdoor garden terraces expands our space and allows our team members and customers to enjoy the benefits of sunshine and fresh air," he emphasized.

Coretrust acquired the 915,000-square-foot tower at the prime downtown corner of 5th and Flower Streets in November 2016 and has invested more than $25 million to upgrade all of its operating systems, common areas, and amenities to the highest levels.

A major Coretrust innovation was hacking the building's curtain wall to create a 1,000-square-foot loggia terrace that brings fresh air and sunlight into the 22,500-square-foot Workplace Innovation Lab on the sixth floor. It has added secured touchless destination dispatch controls to completely modernized Otis elevators that allow tenants to use security cards to call cars without touching buttons.

Indoor air quality that enhances tenant health and productivity is ensured through the installation of Ultraviolet Germicidal Irradiation (UVCGI) in-duct air purification systems; upgraded MERV-14 rated air filters; frequent fresh air purges, and maximum allowable fresh air ventilation throughout the day. In addition, Coretrust is one of the first landlords to provide continuous elevator air purification through bi-polar ion generators within each cab.

Among other important changes, Coretrust has minimized touchpoints by adding automatic doors, touchless parking garage entry, touchless security access for visitors, and touchless restroom fixtures.

FourFortyFour has a wide range of on-site amenities such as the 12,000-square-foot Gallery Conference and Event Center, Equinox, Starbucks, Mendocino Farms, OmNom Organics, Citi bank branch, Uptown Drugs, Trims and Trends Hair Salon, abundant on-site parking, and a carwash. Its Distributed Antenna System extends from the lowest level of the parking garage to the roof. It provides highly reliable and robust cellular and Internet service throughout and positions the property to take full advantage of 5G as its deployment ramps up.

About Coretrust Capital Partners
Coretrust Capital Partners, LLC ("Coretrust") is a Los Angeles-based private real estate operating company formed in 2014 by three original partners of Thomas Properties Group, Inc. (NYSE: TPGI). Coretrust, a Registered Investment Advisor, provides fiduciary investment management services to institutional clients in both co-investment and separate account vehicles targeting opportunistic, value-add, core plus and core strategies in the office sector. Coretrust targets acquisitions in major urban centers located in the West Coast, Southwest and the Mid-Atlantic regions. For more information visit www.coretrustcapital.com


ABOUT PEOPLESPACE
PeopleSpace is a leading West Coast workspace strategy company focusing on commercial furniture and engaging environments. We transform the way organizations plan, design and execute work spaces. Formerly Interior Office Solutions (IOS), a top solutions provider on the West Coast for almost 20 years, PeopleSpace is now affiliated with Haworth, one of the largest furniture manufacturers in the world. With Customer Experience Centers (Irvine, Los Angeles, Portland, Ore. and Seattle), a custom furniture manufacturing and design studio, an architectural interiors / demountable wall specialty subcontractor, a specialized custom architectural elements design and manufacturing studio, and two installation, warehousing and service facilities, PeopleSpace delivers a comprehensive, streamlined customer experience. For more information visit: www.peoplespace.com.

ABOUT HAWORTH
Globally, Haworth Inc. enriches spaces with award-winning furniture, interior architecture and technology solutions to help create beautiful rooms and achieve business goals by supporting collaboration and innovation. Research, knowledge and design are at the center of the company's strategy and foster a deep understanding of built environments, culture transformations and agile workplace needs. With a strong history of craft, innovation and 400 patents, Haworth provides customers with tailored, inspiring spaces that enhance business, stir spirits and improve lives around the world. The company is committed to protecting and restoring the environment; creating economic value; and supporting and strengthening communities. Founded in 1948, Haworth remains family-owned and privately-held serving markets in more than 120 countries through a global network of 650 dealers and 7,500 employees. Headquartered in Holland, Michigan, U.S.A, the company had net sales of USD $2 billion in 2017.

CONTACT
Nerissa R. Silao
310.874.9230
nerissa@capwellcomm.com