Andy Fishburn, CarrAmerica senior vice president for leasing and marketing in Southern California, tells GlobeSt.com that the deal is a restructuring of the security firms' lease. Fishburn explains Pinkerton-Burns had been on a lease that granted the tenant the option to either cancel or renew after five years. That five-year mark was due to arrive this September.

In the restructuring, Pinkerton-Burns is renewing for five years in a deal valued in the neighborhood of $10 million. The new lease has something for both parties. It lowers the monthly rental rate for Pinkerton-Burns and ensures a good credit tenant for CarrAmerica at a time when good credit office tenants--or any office tenants--are hard to find.

The 105,000-sf Westlake Spectrum is approximately 75% leased now, with Pinkerton-Burns taking up about 70% of the leased space. The Spectrum is composed of dual two-story buildings designed with an outdoor water feature and on-site extras such as a fitness center. It's situated near the 101 Freeway and close to hotels, retail shops and restaurants at the nearby Westlake Promenade shopping center.