Law firm Akerman inks 25k sf deal at CalEdison building

Rising Realty Partners has been giving the historic property a facelift

TRD LOS ANGELES /
Jul.July 12, 2017 12:15 PM
CalEdison building, Sue Zabloudil (Rising Realty Partners/Akerman)

Law firm Akerman has inked a deal for 25,000 square feet at the iconic CalEdison building, formerly known as One Bunker Hill, according to a statement from the landlord.

The Miami-based company nearly doubled its footprint from the 14,000-square-foot space it formerly occupied at 725 South Figueroa Street.

Akerman’s deal is for the entire third floor at the Art Deco building, at 601 West Fifth Street in Downtown Los Angeles.

While terms of the lease were not disclosed, the average asking rent for the area is $39.89 per square foot, according to a second quarter market report from JLL. 

Matthew Cheezem, Maureen Hawley and Mike McRoskey of JLL represented Akerman. Carle Pierose and Rob Erikson of Industry Partners represented landlord Rising Realty Partners.

Rising has been giving the 13-story historic property a facelift since acquiring it in October 2015 for $92 million in partnership with Lionstone Investments and Hermes Investment Management.

The building first opened in 1931 as the headquarters for Southern California Edison Co. 

Sue Zabloudil, managing partner at Akerman’s L.A. office, said in a statement that the move will help the firm accommodate additional employees as it continues its recruiting efforts.


Related Articles

arrow_forward_ios
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

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

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

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

The Park Calabasas and Chris Rising (Credit: Jeff Newton)

Rising Realty fills Park Calabasas with latest big lease

arrow_forward_ios
Loading...