Law firm Akerman inks 25k sf deal at CalEdison building

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.