EL SEGUNDO, CA-Unocal Corp. has renewed for 86,000 sf of office space at its world headquarters here in a $10-million lease, and the California Board of Equalization has extended for eight years in a $7.2-million lease of 34,297 sf in the Culver City-Fox Hills market, according to CB Richard Ellis and PM Realty.

Unocal’s new lease runs for five years at Continental Park, report R. Todd Doney and Grafton Tanquary of CBRE. Doney and Tanquary represented the oil company in negotiations with landlord Continental Development Corp., which represented itself. Unocal’s space is at the class A, 85-acre Continental Park, a mid-rise 2.5-million-sf project along the Rosecrans corridor. Unocal is one of the world’s largest independent natural gas and crude oil exploration and production companies.In the Culver City-Fox Hills transaction, Chris Strickfaden of PM Realty Group reports that the Board of Equalization is remaining in the same amount of space in signing its deal at 5901 Green Valley Circle, a 120,000-sf building at the Promontory, a low-rise complex just off Interstate 405 near the Fox Hills Mall. Strickfaden and Jim Bowers of PM Realty represented building owner TIAA CREF in the lease, which keeps the project 100% occupied. The Board of Equalization was represented by Bill Bacon and Jeff Pion of CB Richard Ellis. The Board of Equalization has been at the Promontory since 1994, when PM Realty put the state agency into the building it now occupies, which was built in 1985. The Board administers the state’s tax programs, including sales and usage taxes, property tax, and special taxes.

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