LOS ANGELES-Payment processing firm Regulus West has leased36,041 sf at the Garland Center at 1200 W. Seventh St. andCornerstone Research has signed for 28,604 sf at the US Bank Towerin two recently completed Downtown L.A. office deals. The RegulusWest deal is a five-year sublease valued at more than $5 million,according to Brian Luft, of NAI Capital's West Los Angeles office,who represented the tenant along with Michael Walters of NewJersey-based NAI James E. Hanson.

Walters and Luft note that the transaction was complex in thatit involved negotiating an early lease termination forapproximately 15,000 sf of excess space, while simultaneouslyrenewing Regulus' lease/sublease for an additional five years. “Theend result was that we were able to accomplish Regulus' goal ofreducing their overall cost of occupancy,” Luft says.

Charter Holdings, Inc., the master sublessor of the officebuilding, was represented by Jason Warner and Nick Warner of CBRichard Ellis. The deal follows a recent lease reported byGlobeSt.com in which Bank of America signed a $28-million lease for83,000 sf at the 1200 W. Seventh St. building, a deal that wasintegral to a plan by master lease holder Charter Holdings to spend$30 million in improvements to the 740,000-sf building.