X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WEST LOS ANGELES, CA-Marathon National Bank renewed its soon-to-expire lease at the Olympic Center Building in West Los Angeles, at the same time reducing the square footage it occupies.

Terms of the deal were not disclosed, but the bank is believed to have signed for approximately $2.5M millioin in the six-year deal at 11150 Olympic Blvd., based on prevailing asking rates of $2 to $2.45 psf per month.

Marathon formerly leased about 25,000 sf at the 11-story, 160,000-sf building owned by Douglas Emmett Realty Fund, broker Christina Bellinghausen of the Staubach Co. tells GlobeSt.com.

Bellinghausen, who represented the bank, tells GlobeSt.com that the bank’s former lease, a 10-year deal, was due to expire in August.

“They had been subleasing some of their space, so this frees them from the obligation on the sublease space,” she says. Marathon retained building-top signage as part of the new lease, she adds.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.