JMB Realty’s Century City Center Nears Completion

JMB Realty Corporation’s new office tower in Century City is nearing completion.

Century City Center rises 37 stories at 1950 South Avenue of the Stars and is slated to host 730,000 square feet of offices above parking and retail space once completed, Urbanize Los Angeles reported. The nearly finished building will rise about 564 feet in height and feature two acres of gardens and courtyards on the ground at the back of the property.

JMB has already found a major tenant to move into Century City Center once construction is complete: Creative Artists Agency, one of the top talent agencies in the world. CAA plans to move its headquarters into 400,000 square feet of offices at the tower. Clearlake Capital also agreed to pre-lease 150,000 square feet of offices across the top eight floors in the building. In 2023, law firm Sidley Austin similarly agreed to pre-lease 75,000 square feet in the Johnson Fain-designed tower.

To make the building a reality, JMB Realty secured funding from an affiliate of Cale Street, an investment firm based in the U.K. The Chicago-based firm scored a $575 million construction loan from the Cale Street entity. Cale Street is backed by the Kuwait Investment Office and the Kuwait Investment Authority.

Century City has become an office hotspot in Los Angeles. The Westside area is slated to receive more offices, including a 35-story office tower on Avenue of the Stars as part of Fox Corporation’s overhaul of its historic studio lot in Century City. Fox Corporation is pursuing a $1.5 billion redevelopment, including recent plans to subdivide the Fox studio lot at 10201-10275 West Pico Boulevard into two ground lots.

“We filed an application with the city to carve out a separate 2.7-acre legal parcel for the proposed office tower fronting on [Avenue of the Stars],” Bill Christopher, founder of project consulting firm Urban Concepts, told The Real Deal. The application “will move in tandem with the city’s review of the project,” according to a note sent to neighbors last week, calling it “just another step in the entitlement process.”

— Chris Malone Méndez