Savills consolidates, expands with new Century City digs

Savills is consolidating its two Los Angeles offices — one in Downtown and the other in Westwood — and expanding with a move to around 20,000 square feet in Century City.

The tenant-side brokerage plans to take the entire 11th floor at Anderson Real Estate’s 1900 Avenue of the Stars sometime this summer. It will relocate from 7,800 square feet at 777 South Figueroa Street and 9,973 square feet at 1100 Glendon Avenue, according to a person with knowledge of the deal.

The length of the lease, a Savills spokesperson said, is “multi-year.”

Asking rent in the building ranges from $6.50 to $7.50, according to a spokesperson for CBRE.

The Century City building, a 28-story, 627,000-square-foot, Class-A high-rise office building, is undergoing a $100 million redevelopment together with 1800 Avenue of the Stars by owner Century City-based Anderson. The redevelopment will be completed in the second quarter, per the Anderson spokesperson.

The new digs aim to “create a new, experiential office environment,” Savills Los Angeles region President Josh Gorin, who oversaw lease negotiations for the firm, said in a statement.

Peter Best of LA Realty Partners and David Freitag, Kayla Rix and Rocky Binswanger of CBRE represented the building in lease negotiations. Best didn’t respond to a request for comment.

When asked why Savills would want to leave Downtown L.A., Gorin said via a spokesperson: “Century City offers a prime location that puts us near key clients in industries such as entertainment, legal, financial, and other professional services firms.”

Office leasing bounced back across L.A. County at the end of last year, though the bulk of the deals were renewals.

The L.A. office market had its best quarter since the start of the pandemic in the fourth quarter, with 3.9 million square feet leased, from 1.7 million square feet a year earlier, according to Savills data.

Among the top 10 transactions in Q4, one was in Century City, according to a list from Savills. Loeb & Loeb renewed its 130,000-square-foot space at 101000 Santa Monica Boulevard. Savills’ 40,000-person operations span seven countries.