Universities Lease 95,000 SF of Office Space

BEVERLY HILLS, CA-USC and the University of California have signed leases for more than 95,000 square feet of medical and medical-related office space here and in the Los Angeles International Airport area. USC signed its deal for 14,195 square feet at Archway Medical Plaza at 9033 Wilshire Blvd. in Beverly Hills here; UCLA's deal is a 130-month extension for 81,195 square feet at 5767 W. Century Blvd.

According to brokers in the USC deal, the university signed a nine-year lease valued at $8 million for the Archway Medical Plaza space, where the tenant will receive building-top signage under terms of the lease. Slated to open in the fall, the new space is a satellite location for the Doctors of USC―affiliated with the Keck School of Medicine of USC―and will be located in two suites of the building, which is situated at the northwest corner of Wilshire Boulevard and Wetherly Drive.

Landlord Archway Holdings-Wilmed LLC was represented by principal Bob Safai and senior director Steve Salas of Madison Partners. USC was represented by LA Realty Partners principal Gary Weiss and director Christy McRoskey, along with John Wadsworth of Colliers International.

The Doctors of USC Beverly Hills will initially focus on ophthalmology and cancer care, providing diagnostic and treatment services. The facility will feature patient exam and treatment rooms, an on-site laboratory and pharmacy, and valet parking. The USC Boardroom, the Trojan Hospitality Room and a medical education video conferencing center are also planned. Future services will include a men’s health center, a women’s health center and an imaging center.

In the 130-month extension by UCLA, Grubb & Ellis Co. reports that the university uses the space as a Faculty Practice Group Physician Support Services office, which has approximately 400 employees. The university was represented by vice president Sean O'Leary and executive vice president Maury Gentile of Grubb & Ellis, along with Joanne Williams of UCLA Real Estate. The owner of the property, Decron Properties, represented itself.

The office is responsible for billing 1,300 providers at four hospitals, including Ronald Reagan UCLA Medical Center, Santa Monica UCLA Medical Center & Orthopedic Hospital, Resnick Neuropsychiatric Hospital and Mattel Children's Hospital UCLA, as well as 65 other clinics. The facility also houses the Physician Referral Services call center.