Under AIMCO's 66-month lease, the firm will pay Arden Realty of Los Angeles about $3.3 million for its new eighth floor offices at 6100 Center Dr. while reaping $4.7 million over seven years in connection with Tower Hematology's sublease of AIMCO's former offices on the second floor of 9090 Wilshire Blvd., Serge Vishmid, with Grubb & Ellis' West Los Angeles office tells GlobeSt.com.
The medical group, which specializes in cancer treatment, will use the new location for its headquarters. Vishmid says the property sublease entailed obtaining a variance from city officials to allow the Wilshire Boulevard space to be used for medical purposes. The building had been zoned strictly for office use.
Vishmid, along with Bruce Kaufer, also with Grubb & Ellis, represented AIMCO in both deals. In-house representative Michael Pollack represented the landlord in the Howard Hughes Center transaction while Michael Geller and Marc Lebowitz, both with of First Property, handled the sublease for Tower Hematology.
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