Global apparel company GBG inks 40K sf lease at Columbia Square
Global Brands Group, a global apparel company whose brands include Juicy Couture, Guess and Michael Kors, has inked a lease for 40,000 square feet at Kilroy Realty Group’s Columbia Square, sources told The Real Deal.
The company is the latest in a string of big name tenants to sign on at the Hollywood complex, which was redeveloped from the onetime CBS headquarters. Viacom, MTV and coworking concept NeueHouse have all taken space there.
Kilroy CEO John Kilroy announced the lease, as well as a 31,000-square-foot Viacom expansion deal, in an earnings call last week, but did not identify the tenant. A spokesperson for Kilroy declined to comment on GBG. Rents at the property have been coming in at close to $60 per square foot per year, sources said.
The deals with GBG and Viacom bring the project to 84 percent leased. Viacom’s total footprint is now 210,000 square feet, Kilroy said during the call.
Kilroy also noted that interest had been strong among prospective tenants for Columbia Square’s 200-unit residential component, which began leasing in February.
“We expect leasing to accelerate even more as we complete construction of the amenities for this space, including the rooftop and ground level restaurants,” he said. “We are now 44 percent leased, up from 22 percent at the end of the third quarter.”