The Real Deal Los Angeles

Watt Plaza closes $33 million worth of new leases

New tenants will take 75,000 square feet in the Century City complex

April 27, 2016 09:38AM
By Cathaleen Chen

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Watt Plaza at 1875-1925 Century Park East (credit: Watt Companies)

Watt Plaza at 1875-1925 Century Park East (credit: Watt Companies)

Watt Companies has signed 75,000 square feet in new leases at Century City’s Watt Plaza, the company announced Wednesday. The deals, worth a total of $33 million, bring the two twin towers at 1875-1925 Century Park East to 90 percent leased.

New tenants at the 23-story office complex include accounting firm NSBN LLP; Resolution Economics; arbitration and resolution services firm JAMS; law office Knobbe, Martens, Olson & Bear; and Lieberman Software Corporation.

NSBN is taking the 16th floor, Resolution is taking the 15th floor, JAMS will take 12,000 square feet on the 14th floor, and Lieberman has singed on for 13,000 square feet on the 12th floor. Knobbe will be on the sixth floor, with 10,700 square feet.

Watts is also continuing with its spec suites program, an open concept plan for creative companies, with five new additions ranging from 2,800 to 4,100 square feet.

“We are seeing many tenants who prefer the turn-key experience, which explains the success of our growing spec suite program,” Jamie Bergantz, director of leasing at Watt Plaza, said in a statement. “Many L.A.-based companies have gravitated toward creative office space in recent years.”

Watt Plaza was represented by Kathy McKay and Jamie Bergantz of Watt Companies in the new lease deals.

Cushman & Wakefield’s Mark Robinson and Arlene Sommer represented NSBN. Steve Kolsky and Mike Arnold of Newmark Grubb Knight Frank were the brokers for Resolution Economics. Tom Todd of Newmark Cornish & Carey, in addition to Dennis Smith and Cory Campbell of Travers Cresa acted on behalf of JAMS. Knobbe, Martens, Olson & Bear, LLP was represented by Kevin Bender and Danny Rees of CBRE, and Lieberman Software Corporation worked with Chris Keller of Madison Partners.