Another large lease is coming to Downtown Los Angeles thanks to the 2028 Olympics and Paralympic Games.

On Location, which is working with the 2028 Olympics to sell ticket packages, has leased 108K SF at the former Union Bank Plaza, Bisnow has learned.

On Location did not respond to a request for comment.

The 40-story property at 445 S. Figueroa St. holds roughly 675K SF of office space. The Southwest Carpenters Pension Trust bought it in 2024 for $80M.

Downtown had a 31.7% office vacancy rate in the fourth quarter of 2025 — the highest of any LA submarket — and roughly 144K SF of negative absorption.

This is the second office lease this year connected to the 2028 Games. In January, The Real Deal reported that the Los Angeles Organizing Committee for the Olympics and Paralympic Games leased 160K SF at 1150 S. Olive St.

On Location specializes in travel and entertainment packages around live events, including the FIFA World Cup and Super Bowl LXI, both of which will pass through LA.

On Location was also the official hospitality partner of the 2024 Olympics in Paris. With that event, On Location packaged tickets to the Olympics with travel, accommodations and other hospitality options at different costs tiers, Deadline reported.