The lease renewal was executed with the building owner, a major pension fund, through its investment advisor, CB Richard Ellis Investors. The CB Richard Ellis Investors team of Annie Kodak and Kevin O'Connor negotiated the transaction on behalf of the owner. The CBRE lead market broker was Stan Gerlach. Michael Weiner of Colliers Seeley International and Gerald Medinger of Weber Wood Medinger represented Northrop Grumman.

The Northrop space is at Northrop Tower II, a building of approximately 300,000 sf at 1840 Century Park East. The transaction is among the largest office leases in the past year in the West Los Angeles market in terms of value.

CBRE's O'Connor says that one of the primary factors that drove Northrop Grumman's decision to remain at its namesake plaza was the $10-million building and common area remodeling that is being designed by DMJM and is slated to start next year. Design plans to enhance the 550,000-sf plaza include a prominent new rotunda footprint to the 1840 building, improved vehicular and pedestrian flow, new lobbies and entrance areas, and new landscaping including a lawn and open, yet sheltered, sundeck to create places for tenants to gather. Other touches will include central courtyards and expanded ground floor lobby and tenant spaces.

Northrop Grumman Corp. is a $25-billion global defense company that provides products and services in systems integration, defense electronics, information technology, advanced aircraft, shipbuilding and space technology. The company employs approximately 120,000 workers, with operations in all 50 states and 25 countries.