Law firm tripling its lease space at ARCO Tower in DTLA

Tyson & Mendes signs expansion lease for 33k sf

Los Angeles /
Feb.February 06, 2019 12:00 PM
Chris Musgjerd of Savills Studley and the ARCO Tower in Downtown Los Angeles (Credit: Google Maps)

The law firm Tyson & Mendes is tripling its square footage at the ARCO Tower, adding to a string of new leasing deals in Downtown Los Angeles.

The law firm signed an expansion lease for more than 32,600 square feet at ARCO, at 1055 W. Seventh Street. The firm said it is planning to hire at least 50 more attorneys in the next six months.

Completed in 1989, the ARCO Tower has 33 stories and more than 205,000 square feet of space. Chris Musgjerd of Savills Studley represented the law firm in the transaction.

Office sales in Downtown Los Angeles slowed in the second half of 2018, but leasing remained steady, according to Savills Studley. The growth of biotech and life science firms helped the county’s office vacancy rate drop to 14 percent during the third quarter.

In late January, NHN Global, a South Korean gaming developer, paid $22 million for the Pettebone Building at 510 S. Broadway, which is less than a mile from the Arco Tower. Also nearby, Bow West Capital opened its 67,000 square-foot Green Street Building development, which is occupied exclusively by tenants in the cannabis industry.

A different law firm – Lewis Brisbois – also signed an expansion lease for 24,000 square feet for its headquarters at the U.S. Bank Tower in Downtown, which is now for sale.


Related Articles

arrow_forward_ios
From left: Related California’s Gino Canori and William Witte with 710 Broadway (710 Broadway, Getty, Related)
Related scores $385M in financing for Santa Monica mixed-use project
Related scores $385M in financing for Santa Monica mixed-use project
Onni Group’s Rossano De Cotiis and Wilshire Courtyard at 5700-5750 Wilshire Boulevard in Los Angeles
Onni leases 225K sf of offices in Mid-Wilshire to Sony Pictures
Onni leases 225K sf of offices in Mid-Wilshire to Sony Pictures
Simon Property Group's David Simon, Brea Mall at 1065 Brea Mall (Getty, Google Maps, Simon Property Group)
Simon seeks to redevelop former Sears site at Brea Mall
Simon seeks to redevelop former Sears site at Brea Mall
CBRE's Stew Weston with rendering of 1011 North Sycamore Avenue
CIM to build offices on West Hollywood cement plant site
CIM to build offices on West Hollywood cement plant site
Bed, Bath & Beyond's Sue Gove with 14351 Hindry Avenue
Bed Bath & Beyond to close seven more stores across SoCal
Bed Bath & Beyond to close seven more stores across SoCal
Griffin Living's Paul Griffin III and Griffin Plaza at 3885-3977 Cochran Street in Simi Valley
Griffin Living sells Simi Valley shopping center for $22M
Griffin Living sells Simi Valley shopping center for $22M
TGS Management's Fred Taylor and FivePoint's Daniel Hedigan
TGS Management pays $240M to buy 42 acres for Irvine data hub
TGS Management pays $240M to buy 42 acres for Irvine data hub
Susan Phillips, a professor of environmental analysis and director of Pitzer College’s Robert Redford Conservancy for Southern California Sustainability and San Bernardino County Supervisor Curt Hagman with warehouses in San Bernardino county
IE warehouse boom generates call for building moratorium
IE warehouse boom generates call for building moratorium
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...