Paul Stockwell in the Downtown L.A. office of Julien J. Studley says that Coast Business Centers, an operator of executive office suites, has expanded and renewed its lease on the 20th floor of 10 Universal City Plaza. Coast, which has been at the building since 1995, will expand onto the entire 23,000 sf of the 20th floor in a seven-and-a-half-year, $5.6 million lease that begins Jan. 1. The new lease will nearly double Coast's space in the building. Stockwell and Will Adams of the Orange County office of Studley represented Coast. The landlord, TEN UCP Property LLC, a partnership of Beacon Property and CarrAmerica, was represented by Andy Fishburn of CarrAmerica and Jim Lindvall of Grubb & Ellis.
In the other deal involving a Universal City tenant, Rocket Science Laboratories is relocating from 3151 Cahuenga Blvd. in Universal City to 8441 Santa Monica Blvd. in West Hollywood, according to Studley's Leonard Nadler and Robert Cavaiola, who represented the producer of reality TV shows. Nadler and Cavaiola say that Rocket Science needs space to keep up with its growth. The company signed a $4 million, six-and-a-half year deal to move into 20,858 sf in the West Hollywood building. Rocket Science will be the sole tenant in the 24,000-sf building, which was originally designed by Frank Lloyd Wright for renowned photographer Herb Ritts. The deal is a sublease from financial services provider, Cantor-Fitzgerald, which was represented by Cushman & Wakefield.
Besides the space, the transaction includes free existing furniture and equipment, building signage and free secure parking.
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