Metrolink inks deal for 30K sf at
Wilshire Grand

The company will share a board room with the Southern California Association of Governments

Nov.November 08, 2017 12:16 PM
The Wilshire Grand (Credit: Wilshire Grand)

Metrolink is officially stopping at the Wilshire Grand.

The commuter rail system has signed a 15-year, 30,000-square-foot lease occupying the entire 15th floor and roughly a third of the 12th floor at the recently opened Wilshire Grand Center at 900 Wilshire Boulevard, The Real Deal has learned.

Asking rates clock in at $4.25 a foot, which values the lease at roughly $127,500 monthly — or $1.53 million yearly — although that number is not confirmed.

It will be relocating its headquarters and 160 employees from One Gateway Plaza, located at the corner of North Vignes Street and East Chavez Avenue in Downtown.

John Cushman III and Steve Marcussen of Cushman and Wakefield had the listing. Mark Sullivan of Savillis Studley represented Metrolink.

Back in May, Metrolink’s board teased at the possibility of moving to the Wilshire Grand during a meeting. Its board recommended Metrolink sign a 15-year lease at the luxury office building, according to a board agenda. At the time, the panel was also considering three other buildings in Downtown.

The lease comes on the heels of Southern California Association of Governments’ announcement to move to the tallest building west of the Mississippi River. The Metropolitan Planning Operation — a regional transportation partner of Metrolink — was the first tenant in the new office building, occupying 44,000 square feet across two floors.

“A unique opportunity presented itself when Metrolink learned that one of our regional transportation partners, the Southern California Association of Governments, was planning to relocate to the Wilshire Grand Building,” Metrolink representative Christopher Gutierrez said. Metrolink will have access to SCAG’s board room facility, and thus won’t build one on its own floor.

“Metro had been communicating with Metrolink regarding their need for additional space and it was determined that it would be mutually beneficial to both agencies if Metrolink relocated,” Gutierrez added. “Metrolink was able to capitalize on this unique opportunity to move to the Wilshire Grand building.”

The Wilshire Grand, developed by Korean Air-owner Hanjin International Corp., was completed this June. Other tenants at the 2.1-million-square-foot development include commercial brokerage Cushman & Wakefield, which recently moved into a 35,000-square-foot lease on floors 24 and 25.

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