Positioned in the dynamic South Park neighborhood of Downtown Los Angeles, 940 S Figueroa Street offers a one-of-a-kind leasing opportunity within the iconic Variety Arts Theater building. Spanning approximately 72,426 SF, this historically significant property combines vintage architecture with flexible build-out opportunities suited for office, retail, entertainment, or experiential uses. Currently offering up to ±54,023 SF across five floors, the property features unique configurations including a ground-floor historic live theater (capacity ±1,656 patrons), a mezzanine-level bar and lounge, and upper floors adaptable for creative workspaces, boutique retail, or hospitality concepts. Capabilities include partial build-out options and infrastructure to accommodate restaurant or venue operations. Located steps from Crypto.com Arena, L.A. LIVE, and the Los Angeles Convention Center, this address ensures unparalleled visibility and foot traffic. Tenants benefit from a Walk Score of 95, Transit Score of 100, and Bike Score of 86, reinforcing ease of accessibility for employees, clients, and guests. This property is ideal for innovative occupiers seeking an iconic downtown presence within a trend-driven cultural and entertainment hub.