The Luminary's expansion of more than 100,000 square feet includes a lobby lounge, a rooftop terrace with panoramic views and three floors of office space encompassing a total of 81,711 square feet.

The permanent plan passed unanimously and will cap rent control increases at 5% with some exceptions.

Industry watchers will look to see if “small and nimble” is the way to go, as Eastdil Secured president Michael Van Konynenburg shares the company's strategy with GlobeSt.com.