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.

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.