The entertainment TV network, which occupies 70% of the space at the 5750 Wilshire Blvd. building, signed a 10-year deal that starts in 2012. Madison Partners principal Brad Feld, who represented the landlord, Rreef, noted that the space is occupied by "E! and its affiliates, including the Comcast Entertainment Group. E! was represented by Mark Sullivan and David Gordon of Studley.
Studley's latest research report on the L.A. office market lists rents at $32.59 per square foot per year in the Miracle Mile, and other brokerage reports put the rate at a similar range. Studley lists the availability in the Miracle Mile at 21.9%, compared with availabilities that range from 12.2% to more than 34% in other L.A. area office submarkets.
The Wilshire Courtyard location is home to operations such as television and radio host Ryan Seacrest's morning radio show, which is broadcast from the building. Seacrest is host of American Idol and also host of the Top 40 radio show On Air.
Wilshire Courtyard, in the Miracle Mile District, is one of the largest entertainment/media properties in Los Angeles. It comprises more than one million square feet of office space in its two buildings.
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