The US Bank Tower is owned by a real estate investment company, not by US Bank itself

The US Bank Tower in Los Angeles — the tall building with the distinctive crown on top — is owned by Shorenstein Properties, a San Francisco-based real estate firm. US Bank, the financial institution, is a tenant in the building and pays rent like any other company would. The building's name comes from a long-term lease agreement US Bank signed decades ago, not from ownership.

This is a common source of confusion. When a major company's name is on a building, many people assume that company owns it. In reality, large office towers are usually owned by investment firms that buy and manage real estate as their business. US Bank straightforward rents office space there, the same way a law firm might rent space in a building called the "Smith Tower."

Key Takeaways

  • Shorenstein Properties, a real estate investment company, owns the US Bank Tower in Los Angeles.
  • US Bank is a tenant in the building and leases office space, which is why the building carries the bank's name.
  • The building was completed in 1989 and stands 72 stories tall, making it one of Los Angeles's most recognizable structures.
  • Real estate investment companies typically own major office towers and lease space to tenants of all kinds, not just financial institutions.

How the building got its name

In 1989, when the tower was completed, US Bank signed a major lease for office space and paid for the naming rights. This is a standard real estate practice: a company pays the building owner for the privilege of having its name displayed on the building. The lease agreement typically lasts for a set number of years, after which the name may change if a new tenant takes over the primary lease or if the building owner decides to rebrand.

The building was originally designed and developed by the Arco company, but like most large commercial real estate, it changed hands over the years. Shorenstein Properties acquired it and has managed it since then. The company specializes in owning and operating premium office buildings in major cities across the United States.

What Shorenstein Properties does

Shorenstein Properties is a privately held real estate investment and management company founded in 1978. The firm owns and operates office buildings, hotels, and other commercial properties. Their business model is straightforward: they buy buildings, lease space to companies and organizations, collect rent, maintain the property, and sell it when the time is right. They are not a bank or financial services company — they are a real estate company.

Shorenstein owns dozens of major buildings across the country, including office towers in San Francisco, New York, Boston, and other major cities. The US Bank Tower is one of their flagship properties because of its size, location, and the quality of its tenants. Like all property owners, Shorenstein is responsible for maintaining the building, paying property taxes, and managing the lease agreements with all the companies that rent space inside.

The difference between owning and leasing a building

When you own a building, you own the physical structure and the land it sits on. You collect rent from tenants, pay property taxes and insurance, handle maintenance and repairs, and decide what happens to the building long-term. When you lease space in a building, you pay rent to the owner and have the right to use that space for a set period of time, but you have no ownership stake in the building itself.

US Bank leases office space in the tower the same way a law firm, accounting company, or any other business would. The bank pays Shorenstein Properties rent each month. In return, US Bank gets to use its office space and, as part of the lease deal, gets to have its name on the building. When the lease eventually expires or is renegotiated, the arrangement could change — either US Bank could renew, or another company could take over the primary lease and the building's name could change.

Why companies lease rather than own office buildings

Large companies like US Bank typically lease office space rather than own the buildings they occupy. This gives them flexibility: if the company grows, it can lease more space; if it shrinks, it can move to a smaller building when the lease ends. Owning a building ties up a huge amount of money and creates long-term obligations that most companies want to avoid.

Real estate investment companies like Shorenstein exist specifically to own and manage buildings. They have the informed, the capital, and the long-term focus to handle property ownership. Companies that are in the banking business, retail business, or any other industry focus on their core work and let real estate specialists handle the buildings. This arrangement works well for both sides: the property owner gets steady rental income, and the tenant gets flexible access to space without the burden of ownership.

The building's history and current status

The US Bank Tower opened in 1989 and was designed by the architecture firm Pei Cobb Freed & Partners. At 72 stories and 1,017 feet tall, it was the tallest building in Los Angeles when it was completed and remains one of the city's most recognizable structures. The distinctive crown at the top is lit at night and serves as a landmark visible from many parts of the city.

The building houses office space for a wide range of tenants, not just US Bank. Like most major office towers, it contains law firms, consulting companies, financial services firms, and other businesses. Shorenstein Properties continues to manage the building and maintain its status as a premium office location in downtown Los Angeles. The building's value and desirability depend on keeping it well-maintained and attracting quality tenants who will pay competitive rents.

Frequently Asked Questions

Does US Bank own any buildings?

US Bank, like most large financial institutions, owns some real estate — typically bank branches and regional offices. However, for major office towers like the one in Los Angeles, the bank typically leases space rather than owns the building. Owning real estate is not the bank's core business; banking is.

Can the building's name change?

Yes. When US Bank's lease or naming rights agreement expires, Shorenstein Properties could negotiate a new deal with US Bank, lease the primary space to a different company, or rebrand the building entirely. Building names do change over time as lease agreements end and new tenants move in.

Who pays for maintenance and repairs in the building?

Shorenstein Properties, as the owner, is responsible for major structural maintenance, building systems, and common areas. Tenants like US Bank typically pay for maintenance within their own leased office space. The lease agreement spells out who is responsible for what.

How much does US Bank pay in rent?

The exact amount of US Bank's rent is not public information. Commercial lease terms are typically confidential between the landlord and tenant. Office rent in premium downtown Los Angeles buildings varies based on location, floor level, and lease terms.