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LOS ANGELES – After 20 years at Century City’s Watt Plaza, investment giant Smith Barney will relocate its financial services offices to Fox Plaza at 2121 Avenue of the Stars in a move that gives the firm expanded offices in a central location.

“The soft market and Smith Barney’s lease expiration (at Watt Plaza) provided the ideal timing to accomplish their goals,” Rosey Miller, who as senior managing director with Studley’s West Los Angeles office negotiated the 10-year, multi-million dollar lease, tells GlobeSt.com. “It gave them an opportunity to upgrade their facilities in a quality building at today’s discounted office rents.”

The financial giant, which will take almost the entire 12th floor in the Century City high rise when it moves into 18,000 sf during the first quarter of next year, will also get about 30% more space than at its prior Watts Plaza location,” Miller says.

“Smith Barney has been at Watt Plaza for two decades, but due to continuous growth and the desire to be in a class A office environment, they were seeking a real estate plan that both met their future needs and took advantage of the current state of the market,” says Miller. “In this case, the best way to accomplish these goals was by relocating.” A leader in the US securities industry, Smith Barney provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. Fox Plaza landlord, the Irvine Co., was self-represented in the lease negotiations by Tony Ranger.

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