The tenant in the Maguire lease was Reliance Steel & Aluminum Co. , which renewed its lease until the year 2022 with the Downtown, LA-based office REIT. The 45,000 square feet that Reliance occupies is at Maguire's Two California Plaza in the Bunker Hill area of Downtown Los Angeles. Reliance was represented by Clayton Hovivian, Bart Pucci and Sonya Schmidt of Grubb & Ellis Co., with Maguire represented internally by Peter Johnston and Josh Wrobel.
Terms of the Reliance lease were not disclosed. The asking rate for class A space in Downtown Los Angeles stood at $3.23 per square foot per month in the third quarter, according to the latest market report from Grubb & Ellis.
In the other lease, Sony Computer Entertainment America expanded and renewed in its 44,751-square-foot commitment at 1630 Stewart St. in Santa Monica. Sony was represented by Gerald Porter and Matthew Miller of Cresa Partners, with property owner CF Santga Monica Office LP represented by Jim Jacobsen of Lee & Associates.
The Sony unit is a manufacturer of audio, video, communications and information technology products. Terms of the lease were not disclosed; asking rates for office space in Santa Monica ranged from about $4.50 per square foot for class B space to $5.80 per square foot for class A space in the third quarter, according to market reports.
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