Terms of the 15-year lease inked by Paul, Hastings, Janofsky& Walker LLP also call for the north building of the plaza'sdistinctive black twin towers to be renamed Paul Hastings Tower,according to brokers involved in the deal. The attorneys will movefrom their current space in the 2.2-million-sf complex's southtower next July.

The dollar value of the transaction easily eclipses any ofDowntown's other leases that have been consummated in 2001, andranks as one of the largest in the CBD's history. The agreement wasannounced late last night.

"This is a monumental transaction for Paul Hastings and forDowntown Los Angeles, providing unique high rise office buildingidentity to a major law firm," Lynn Williams, the Cushman &Wakefield broker who represented Paul Hastings, said in a preparedstatement provided to GlobeSt.com. Arco Plaza's owner, Tokyo-basedShuwa Investments Corp., was represented by Tom Kibler of its ShuwaLeasing Corp. unit.