All of the new tenants except for Comerica are new to DowntownLos Angeles. Harley Ellis Devereaux will relocate its regionalheadquarters from West Los Angeles in December, while both GoodwinProcter and Bear Stearns are opening their first Downtown LosAngeles offices to accommodate growth and complement their Westsideoffices.

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According to managing director Lisa St. John of Jones LangLaSalle, the deals indicate that, "Corporate tenants are beginningto see West Los Angeles and Downtown as very distinct markets withdifferent business environments, and they find it advantageous tohave a presence in both." St. John joined with Mark McCaslin of theMcCaslin Co. and Peter Best of Jones Lang LaSalle in representingGoodwin Procter in its 20,428-sf lease at 601 S. Figueroa, wherethe law firm will occupy the entire 41st floor.

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Detroit-based Harley Ellis Devereaux signed for approximately35,000 sf and plans to relocate to the space later this year underits new long-term lease. Terence Lawrence and his team fromSpectrum Strategies represented the architectural firm.

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Dallas-based Comerica Bank is consolidating multiple businessunits in a 27,000-sf office and banking center at the 601 S.Figueroa tower, which was formerly known as the Sanwa Bank Plaza.Comerica was represented by Craig DeMiranda of Lee &Associates.

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Bear Stearns inked a deal for a 9,000-sf office on the 35thfloor that will complement its existing Culver City office. Thefinancial services firm was represented by Rick Buckley of MadisonPartners.

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Other recent deals at the property include GE Capital'sextension of its 8,000-sf lease, negotiated by Tim Campbell, andING Clarion's expansion to 15,000-sf with a term extension as well.Patrick Nally led Madison Partners' team representing INGClarion.

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Preferred Bank signed a new agreement extending its lease termsand expanding the premises for the bank's corporate headquarters toa full floor of more than 23,000 sf, with Jim Travers and Lindy Engof Travers Realty representing the bank in the transaction. JohnBarganski of Brookfield Properties, along with Carl Muhlstein andAnthony Gatti of Cushman & Wakefield, represented BrookfieldProperties in all transactions. Terms of the leases were notdisclosed, but asking rates for Downtown L.A. space are about $24per sf per year, triple-net.

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