Talent agency megamerger leaves Century City office leases in doubt

Creative Arts Agency and ICM Partners occupy combined 400K sf of office space

Los Angeles /
Sep.September 28, 2021 10:27 AM
CAA president Richard Lovett and ICM chairman Chris Silbermann with 2000 Avenue of the Stars and Constellation Place at 10250 Constellation Blvd (Getty, Viracon, Gensler)
CAA president Richard Lovett and ICM chairman Chris Silbermann with 2000 Avenue of the Stars and Constellation Place at 10250 Constellation Blvd (Getty, Viracon, Gensler)

Talent agency powerhouses Creative Arts Agency and ICM Partners command a combined 400,000 square feet of office space in Century City.

Now that CAA has acquired its rival, will consolidation add to the millions of square feet already on Los Angeles’ sublease market?

The companies “are all going to be in one location together as soon as time allows for that to be,” CAA president Richard Lovett told the Hollywood Reporter after Monday’s announced deal.

No details have been released and neither CAA nor ICM immediately responded to a request for comment.

But a similar downsizing happened — also in Century City — following another entertainment industry deal: Disney’s 2019 acquisition of 21st Century Fox. That’s when Fox gave up almost 300,000 square feet of space at Irvine Company’s Fox Plaza at 2121 Avenue of the Stars.

In this case, “CAA doesn’t have any vacant space” and ICM’s building only has a small amount, said Gary Weiss of LA Realty Partners. CAA and ICM employees are still not back at their offices since the pandemic.

Between the two firms CAA, which represents hundreds of A-list celebrities including Reese Witherspoon and Tom Hanks, has most of the office space. The company has 302,000 square feet at the Hines and JPMorgan Chase-owned 2000 Avenue of the Stars, said Weiss, who has worked on a number of Century City office deals, including for CAA.

CAA moved into the 800,000-square-foot tower in 2007 and signed a four-year renewal in July.

ICM, whose client roster includes Shonda Rhimes, Samuel L. Jackson and Ellen DeGeneres has just over 100,000 square feet down the street at JMB Realty’s 10250 Constellation Boulevard. The 800,000-square-foot complex now has about 25,000 square feet of vacant space and another 30,000 opening up by April.






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