SoCal Association of Governments to be first major tenant at Wilshire Grand

Agency slated to occupy 44K sf across two floors

TRD LOS ANGELES /
Apr.April 19, 2017 09:30 AM
Wilshire Grand
A rendering of the Wilshire Grand tower by AC Martin

The Wilshire Grand just scored its first major tenant.

The Southern California Association of Governments is close to inking a 44,000-square-foot, 15-year lease for two floors in the brand new Downtown Los Angeles tower, the L.A. Business Journal reported.

The listing broker was Steve Marcussen of Cushman & Wakefield, which, incidentally, will be another tenant in the 73-story skyscraper. The tower’s developer, Korean Air Lines, will also take a floor.

Office tenants will be able to move in this summer, Marcussen told LABJ. The monthly asking rate is $4.25 per square foot, which would value the lease at about $33.7 million, though the tenant was reportedly offered concessions.

Southern California Association of Government is a state-established council of local governments and agencies designed to address regional issues. It encompasses six counties and 191 cities. [LABJ]Cathaleen Chen


Related Articles

arrow_forward_ios
From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

LA Mayor Eric Garcetti

Down goes Measure EE: Property tax referendum routed at polls

CIM Group Founders, Shaul Kuba, Richard Ressler, and Avi Shemesh and 4750 Wilshire Boulevard (Credit: Google Maps)

CIM Group lists part of its Miracle Mile office campus

Arman Gabay and The Springs shopping center in Palm Springs, part of the 14-property portfolio

Charles Co. secures $215M refi for retail portfolio

Joon Choi, principal at Harbor Associates, and 2400 Conejo Spectrum Street (Credit: Google Maps)

Harbor Associates leases up then sells off its Thousand Oaks office park

9300 Wilshire Boulevard

Land under historic Beverly Hills office building sells for $25M

arrow_forward_ios