Cedars-Sinai’s latest lease gives it 100K sf at Pacific Design Center

The healthcare system adds to existing administrative offices it’s had there since 2016

Los Angeles /
Apr.April 11, 2019 11:00 AM
Cedars-Sinai President Thomas Priselac and the Pacific Design Center

Cedars-Sinai health system is boosting its space at the Pacific Design Center, where it has been a tenant for the last three years.

The nonprofit’s newest lease for 30,000 square feet expands its footprint at the West Hollywood complex to more than 100,000 square feet, according to the Los Angeles Business Journal. Cedars-Sinai first moved into the complex in 2016.

Cohen Brothers Realty developed the 1.6-million-square-foot Pacific Design Center in 1999. Marc Horowitz, the company’s national director of leasing, advised on the latest deal. CBRE’s Todd Doney represented Cedars-Sinai.

At 8687 Melrose Avenue, the Pacific Design Center is about a half-mile from the Cedars-Sinai hospital main campus. The hospital system leases offices and medical facilities around the city.

Each of the complex’s three buildings is clad in monochrome glass — one red, one blue, one green.

In 2016, Cedars-Sinai leased 46,500 square feet, the entire fifth floor of the Green Building for administrative offices. It also took another 30,000 square feet at the Blue Building. At the time, a source said the lease was worth $54.7 million over a 15-year term.

The Pacific Design Center has been popular with tech and media companies. WeWork has leased 70,000 square feet since 2017. Last year, film production company A24 and artificial intelligence company Poletus inked leases there.

The complex includes conference space, a gym, and a 300-seat movie theater. [LABJ] — Dennis Lynch


Related Articles

arrow_forward_ios
Valley Central at 44400 Valley Central Way in Lancaster (Google Maps, Getty)
Lancaster shopping center trades for $45M
Lancaster shopping center trades for $45M
UCLA chancellor Gene Block; former Marymount California University campus (UCLA, MCU)
UCLA pays $80M for former Marymount California campus
UCLA pays $80M for former Marymount California campus
IDS Real Estate Group’s co-CEOs David Mgrublian and Murad Siam with Irwindale Speedway at 500 Speedway Drive in Irwindale (Irwindale Event Center, IDS Real Estate, Getty)
Irwindale Speedway site to transform into industrial park
Irwindale Speedway site to transform into industrial park
Commercial real estate, Orange County, Proposition 13
Large landowners in OC could pay more property taxes, critics say
Large landowners in OC could pay more property taxes, critics say
Drawbridge Realty's Mark Whiting and Pacific Center office park at 1600-1610 Saint Andrew Place (Loopnet, Drawbridge Realty, Getty)
Collectibles outfit backed by Mets’ owner Cohen, Nets’ star Durant adds 102K sf at Santa Ana campus
Collectibles outfit backed by Mets’ owner Cohen, Nets’ star Durant adds 102K sf at Santa Ana campus
From left: Greenbridge Investment Partners' Sean Hashem and Fareed Kanani with  525 E. Colorado Blvd (Getty, Loopnet, Greenbridge)
Burrito chain leases at historic newspaper building in Pasadena
Burrito chain leases at historic newspaper building in Pasadena
Stream Realty Partners' Mike McVean, QuadReal's Dennis Lopez, and Stream Realty Partners' Lee Belland with 1800 Tapo Canyon Rd
First tenant signed at Simi Valley industrial park
First tenant signed at Simi Valley industrial park
Mayfair hotel at 1256 West 7th Street (TripAdvisor, Getty)
ICO wants $70M for shuttered Mayfair hotel in DTLA
ICO wants $70M for shuttered Mayfair hotel in DTLA
arrow_forward_ios

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

Loading...