According to Weiss, LA Realty Partners will focus on the highest levels of L.A.'s class A office market, with an emphasis on West Los Angeles. The new firm, which is based in the Century City area, provides full-service consulting, agency leasing, tenant representation and investment sales.

St. John noted that as the office market bottoms, LA Realty Partners is well positioned to help clients get ready for the next wave of leasing and sales activity. The six founding principals, who brought along their 12-person brokerage and administrative staff, have completed thousands of transactions on behalf of REITs and institutional owners, private investors, Fortune 500 companies, entertainment companies, law firms, investment banks, government agencies and technology firms.

Together, the six principals and senior team of brokers at LA Realty Partners have more than 200 years of Los Angeles commercial real estate experience. Houge said he and his fellow principals in the new firm had a successful relationship with their colleagues at Madison Partners, but that this is "the right time to rebrand our own company and move forward."

Currently, they are representing a number of the Westside's premier properties and clients. Besides the founding partners, the LA Realty Partners team includes professional brokerage associates Dan Baumeister, Owen Fileti, Andrew Jennison, Travis Landrum, Christy McRoskey, Karly Nolen, Bob Pearson, Beau Rawi and Monte Richardson.