chase bank
chase bank

Central City Development Group (CCDG) makes history by being the development advisor responsible for the first business advertisement atop a residential building in Los Angeles. CCDG was able to use their expertise of city zoning ordinances to plan, negotiate, and implement installation of a business identity high-rise sign for JP Morgan Chase on top of the residential condo tower located at 1100 Wilshire Blvd in downtown LA.

When you are driving East on Santa Monica Freeway (10 FWY) between the 405 Freeway toward Downtown, just “look up.” You will not be able to miss the CHASE sign, as it sits atop the Los Angeles Downtown skyline.

All businesses thrive by finding new customers, but the banking industry is a bit different in that regard. Consumers commonly select one bank the first time they need financial services and tend to remain loyal to that bank for a number of years. When a bank wants to expand into a new region, they often look for opportunities to buy or merge with banks already established within that region. This is exactly what happened in 2008 when JPMorgan Chase was interested in making a move on the west coast.

While Chase has long been a powerhouse in the banking industry, it did not have a healthy presence on the west coast until CEO Jamie Dimon secured a deal to buy out Washington Mutual Bank. Along with many other big names in the banking industry at the time, Washington Mutual was struggling to stay afloat in a difficult economy. Dimon and other Chase representatives saw the opportunity for growth into the west coast and made the deal.

In early November 2013, Chase struck the deal that would literally take its name to the top of Los Angeles. The bank agreed to pay $17,500 per month for signage rights at a condo building on Wilshire Boulevard. The monthly rent is for the placing of a glowing sign advertising the bank's presence, perfectly located so that drivers heading into downtown L.A. can see the advertisement.

Getting the sign to the top of the building was not an easy task for Chase. A small percentage of residents within the building disagreed with the deal and took the issue to court. Luckily for Chase, they had CCDG on their side to work their typical magic and get the project in motion.

This sign undoubtedly draws the attention of potential customers and direct competitors living in L.A. In the end, Chase makes a brilliant move to reach its new west-coast market with the help of CCDG. It is a winning scenario for all parties, Chase gets the advertisement, CCDG continues their long line of success and residents of the high rise condo get necessary repairs from the monthly rent of the Chase sign.

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About Us

Central City Development Group is an urban-infill real estate development company providing advisory services to developments with mixed uses on a shared piece of real estate. Learn more about the founder of the company and the development projects CCDG has managed.

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601 S. Figueroa Street, Suite 2601
Los Angeles, CA 90017

Office: (213) 482-2132
Direct : (213) 482-4327
Fax: (213) 482-2609


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