LOS ANGELES-A unit of one the nation’s largest public-relations firms has signed a lease valued at about $4.5 million to expand its Century City office.

Terms of the three-year agreement will give Shandwick USA an additional 5,927 sf at 1888 Century Park East, raising its total square footage in the high-rise to 40,062. Shandwick USA is part of Interpublic Group of Cos., the New York-based advertising and marketing-services conglomerate.

Shandwick USA was represented by Steven Kolsky, principal in the LA office of Newmark & Co. Real Estate Inc., and Scott Panzer, principal in Newmark’s New York office. Mickey Isen, managing director at Beverly Hills-based Kennedy Wilson International, represented landlord Bental 1888 LLC.

“Shandwick needed the expansion space to accommodate employees from a recent acquisition,” says Kolsky. “Newmark negotiated a buy-out of an existing lease with another tenant in the building in order for Shandwick to make room for these employees.”

Though Kolsky won’t disclose the value of Shandwick’s new lease, other sources say the pact is worth about $4.5 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.