Terms of the deal were not disclosed, but industry sources estimate the total consideration at approximately $9 million. Barger & Wolen will relocate its main office from 515 S. Flower St. to four floors at Library Tower, according to Brian D. Ulf of Cushman & Wakefield, who represented the law firm along with C&W's Andrew B. Goodman.
Under the terms of the sublease, which expires in 2010, Barger & Wolen will occupy the 46th through 48th floors and a portion of the 50th floor in the 73-story Library Tower at 633 W. Fifth St. Move-in will take place at the end of March or early April.
With the Barger & Wolen sublease, San Diego-based Sempra Energy, parent of the Southern California Gas Co., has approximately 33,000 sf of space remaining at Library Tower. Norm Mitchell and David Cushman of Cushman & Wakefield and Eric Duncanson of Insignia/ESG represented Sempra.
The new space at Library Tower will accommodate Barger & Wolen's continued growth. The firm, founded in 1976 with seven attorneys, has grown to 87 attorneys, with offices in Los Angeles, San Francisco, Newport Beach and New York.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
