Talent agency Paradigm nears deal to lease entire La Peer Building in Beverly Hills

The company would take 83K-sf iconic building

TRD LOS ANGELES /
Jul.July 07, 2017 04:49 PM
Sam Gores and the Beverly Hills building (Getty)

Paradigm talent agency is in late-stage negotiations to lease the entirety of the iconic 8942 Wilshire La Peer Building in Beverly Hills, sources told The Real Deal.

A representative for Paradigm declined to comment on the talks and a spokesperson for the landlord, Ocean West Capital Partners, was not immediately available for comment.

The distinctive 83,000-square-foot building, which can by identified by a large outdoor sculpture by Eric Orr at its entrance, recently underwent major renovations. The former ICM headquarters now has detailed stone, glass and stainless steel interiors.

Ocean West acquired the property for $40.5 million in 2014, records show.

The company tapped LA Realty Partners in 2015 to lease the space with an eye toward renting the property to a single tenant. The property has sat vacant during that search. The asking rents were not immediately clear. LA Realty didn’t respond to multiple requests for comment.

Talent agencies have long been considered the flashiest of L.A. tenants, sparing little expense with their extravagant headquarters in order to woo clients.

While Paradigm, which represents clients in T.V., music, movies and publishing, has offices across the country, its Beverly Hills headquarters is currently located at 360 North Crescent Drive, the former headquarters of the Music Corporation of America designed by architect Paul Rivere Williams.

It wasn’t clear if Paradigm, led by chairman Sam Gores, will leave that space.


Related Articles

arrow_forward_ios
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Robert Shapiro and the property at 1357 Laurel Way (Credit: Zillow)

Beverly Hills mansion tied to Ponzi schemer sells for $18M

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Masrour and Mansour Barzani and the two Beverly Hills properties

Beverly Hills mansion buys linked to powerful Kurdish family

Four of the top residential listings this week

Here are the priciest resi listings in LA County last week

Clockwise from top left: 709 N. Arden Drive, 800 Nimes Road, 12921 Marlboro Street, 609 Palisades Beach Road and (center) 924 Bel Air Road

Here are the priciest resi sales in LA County last week

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

arrow_forward_ios