Another $100-Mil-Plus Deal in Century City

LOS ANGELES-JMB Realty Corp. said today it has signed aircraft-leasing giant International Lease Finance Corp. to 127,520 sf of space at its new Constellation Place high-rise in Century City, in a deal that’s likely worth more than $100 million.

GlobeSt.com and one of its sister publications, LA-based Real Estate Southern California, reported last year that ILFC was considering taking space in the building. Groundbreaking ceremonies for the 34-story, 700,000-sf tower at Constellation Boulevard and Century Park West were held this morning.

Entertainment conglomerate Metro-Goldwyn-Mayer Inc. cleared the path for construction to begin by signing a contract, valued at nearly $500 million, late last year for 17 floors of the new building. The 425,000-sf, 15-year lease deal assured JMB that the high-rise would be more than 60% occupied when construction is completed in the spring or summer of 2003.