Leasing Roundup: Northwestern Mutual consolidates while Stars Behavioral Health expands … & more

Insurance firm plans relocation to DTLA’s 801 Tower

TRD LOS ANGELES /
Mar.March 08, 2017 06:47 PM
801 Tower, 1501 Hughes Way and 515 S Flower Street (SBHG/CommonWealth Partners/Daum Commercial)

Specialty insurance group Tokio Marine HCC signed an 11-year lease at Downtown Los Angeles’ 801 Tower.

Tokio will take up 32,000 square feet at the 25-story office tower on S. Figueroa Street, joining current tenants such as Anthem Blue Cross of California and China Trust Bank.

The 462,626-square-foot office tower owned by Barings Real Estate Advisers was built in 1991 and features creative and traditional office floor plans.

Tokio plans to move out of its current space at 601 S. Figueroa Street in May.

John Eichler and Tyler Stark of Cushman & Wakefield represented the landlord. Mike Catalano and Luke Raimondo at Savills Studley represented Tokio.

 

Stars Behavioral Health Group (SBHG) is stretching out. The company announced it has expanded its corporate offices at 1501 Hughes Way in Long Beach from 11,344 square feet to 17,713 square feet.

The four-story office building is owned by Brookfield.

Tom Sheets of Cushman & Wakefield and Eric Adams of Newmark Grubb Knight Frank represented the landlord. Jeff Coburn and West Dunlap of Lee & Associates represented tenant SBHG.

Sheets said the SBHG was initially considering a move to another building in Long Beach but decided to stay – becoming a full floor tenant. Brookfield agreed to build out their expansion space, Sheets said in a release.

 

Northwestern Mutual Los Angeles inked a new deal to consolidate into the 34th floor of the City National Plaza at 515 S Flower Street.

The firm, which occupies two-and-a-half floors in the building, will move out of those offices and into its 25,000-square-foot office space in July.

The redesigned floor follows the free-addressing model in which office spaces are unassigned, allowing the financial consulting firm to add additional employees while reducing its overall space.

The two-building, 2,639,493-square-foot property is owned by CommonWealth Partners.

Kevin Bender of CBRE represented Northwestern in its 10-year lease.


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