LOS ANGELES, May 31, 2012 – Rising Realty Partners, in conjunction with Zipcar, the world’s leading car sharing network, today announced the availability of car sharing at the PacMutual building at 6th and Olive in Downtown Los Angeles. As Zipcar’s first downtown location, the new Zipcars will provide area residents, businesses and visitors with increased access to affordable, convenient transportation options that are proven to reduce congestion and emissions.

This new location in the financial district is located next to the Biltmore Hotel and across from Pershing Square, and is easily accessible using the Pershing Square Metro stop. This location will offer three Zipcars to start, which are available for reservation by the hour or by the day.

The availability of Zipcar complements the opening of the Exposition line, which links the Westside to Downtown via light rail, by providing a new transportation option for those who live and work downtown. Commuters who take the Metro or public transportation to work downtown can use Zipcar to attend meetings, while residents looking to give up their personally-owned cars will still have access to a set of wheels for a trip to the beach or to run errands around town.

“This marks a huge advancement in the revitalization and community building movement downtown,” says Jan Perry, representative of the 9th district of the Los Angeles City Council. “I foresee PacMutual and the Pershing Square area as being a central access point to the urban core of Los Angeles, and the availability of car sharing through Zipcar fills one of the last remaining holes in that vision.”

PacMutual was recently purchased by developer and operator Rising Realty Partners. Founded by industry veterans Nelson Rising, Chris Rising and Reed Garwood, the team plans on integrating a total life experience at the historic office center.

“We are blending the boundaries between creative collaboration space, independent focus areas, personal amenities and culture, and we see Zipcar as the perfect fit for PacMutual visitors,” says Christopher Rising, president of Rising Realty Partners. “PacMutual will be the first office building to offer Zipcar downtown, and will continue to bring many firsts to the area.”

“We are very excited to bring car sharing to Downtown Los Angeles with the launch of our new Zipcar location at the PacMutual building,” said Jeff Shields, general manager, Zipcar Los Angeles. “We know that car sharing complements other modes of transportation such as walking, biking and using public transit, and we hope the availability of car sharing in this new area will help contribute to a cleaner, greener and more walkable community.”

An alternative to the high costs of vehicle ownership, the Zipcar hourly and daily rates include gas, reserved parking spots, insurance, roadside assistance and up to 180 miles of driving per day. Cars can be reserved for as short as an hour or for multiple days. For more information on joining Zipcar, visit www.zipcar.com.

About Rising Realty Partners:
Rising Realty Partners (RRP) is a full-service real estate platform specializing in creating world-class commercial and industrial properties. Core competencies include land and property acquisition, development and entitlement, repositioning, property management, asset management, and construction management. RRP executives have been creating value for investors in California commercial real estate markets for over four decades by striking the perfect balance between dynamic vision and trusted best practices.

About Zipcar:
Zipcar is the world's leading car-sharing network with more than 700,000 members and 9,000 vehicles in urban areas and college campuses throughout the United States, Canada, the United Kingdom and Spain. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car. More information is available at www.zipcar.com. Photos and b-roll footage are available for media purposes at www.zipcar.mediaroom.com.