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Los Angeles

Edelman signs 5-year lease extension at 5900 Wilshire

Ratkovich's Miracle Mile office tower will keep the giant PR firm, which occupies 30K sf

5900 Wilshire Boulevard (Credit: Nicolas de Camaret via Flickr)
5900 Wilshire Boulevard (Credit: Nicolas de Camaret via Flickr)

New York-based public relations firm Edelman inked a five-year lease extension at Ratkovich Co.’s 5900 Wilshire Boulevard, according to landlord Ratkovich.

The company had already been signed to a 10-year lease for 30,500 square feet at the Miracle Mile tower, according to the Los Angeles Business Journal.

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Ratkovich said in a statement that it has kept occupancy at the 493,000-square-foot office building above 90 percent over the last two years.

Ratkovich has owned the property since 2005 and renovated it in 2011. It sold a 49 percent stake in the building to Paris-based AXA Group in 2016, but continues to manage the property.

The lease follows recent renewals and extensions at the building totaling 63,800. Tenants include talent agency Buchwald, marketing agency Phenomenon, and staffing agency Creative Circle, according to the L.A. Business Journal. [LABJ] — Dennis Lynch

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Commercial Real EstateMiracle MileRatkovich