The players aren't talking about the terms, but industry sources believe the total consideration for the renewal and restructuring of the lease is approximately $3 million.Steve Kolsky and Maury Gentile of Newmark represented Westcap, with the building owner, the Irvine Co., represented internally by Tony Ranger.

Kolsky and Fowler say the restructured lease renews Westcap 1 1/2 years before the existing pact's expiration, lowering the investment firm's rent commitment. Kolsky says Westcap's early renewal exemplifies the current leasing environment, in which building owners are willing to renew long before leases expire and tenants can negotiate favorable terms by renewing early. Westcap is a Los Angeles-based financial adviser specializing in investment counseling and portfolio management for individuals and institutions.

Westcap occupies a full floor in the 11111 Santa Monica Blvd. building, a 22-story office tower comprising 300,000 sf that is about 80% occupied. The steel frame building was constructed in 1985.