Talent agency Paradigm nears deal to lease entire La Peer Building in Beverly Hills
The company would take 83K-sf iconic building
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.