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SANTA MONICA, CA-The law firm of Greenberg Traurig has signed a six-year, $12-million lease to expand its space to more than 100,000 sf at the Water Garden office complex. Clay Hammerstein of the Downtown office of CB Richard Ellis, which represented Greenberg Traurig, tells GlobeSt.com that the new lease for nearly 47,000 sf of space will run concurrently with the law firm’s lease for its existing space at the Water Garden. Along with Hammerstein, the team that represented Greenberg Traurig included Nick Christensen of CBRE’s Beverly Hills office and Richard Bernstein, formerly of CBRE and now with Trammell Crow Co. The landlord, Water Garden Realty Holding LLC, which comprises a group of institutional investors advised by JPMorgan Real Estate, was represented by Brad Cox and Bob Pearson of Trammell Crow Co. The Greenberg Traurig deal is the latest in a series of leases over the past several years in which law firms have signed for some of the largest office expansions in Los Angeles. “Clearly, in the last two years, law firms have been driving a lot of the markets,” Hammerstein tells GlobeSt.com. Hammerstein, who is a member of CBRE’s national law firm advisory group, points out that the legal profession has accounted for some of the largest expansions in other US markets as well, including San Francisco and New York. “They have been a growing segment of the economy. They’re just all extremely busy,” he says. Greenberg Traurig now occupies 53,554 sf at the 2450 Colorado Ave. building in the Water Garden complex. The law firm will be expanding to an additional 46,868 sf at the adjacent 1601 Cloverfield Blvd. building at the 17-acre complex. CBRE says that Greenberg Traurig expects to move its growing litigation practice to the new space in December. The new offices will be specifically designed to accommodate Greenberg Traurig’s litigation practices, including state-of-the-art audio-visual equipment and deposition rooms. Hammerstein notes that the law firm’s new offices will in essence be brand new space because the 46,868 sf is being built out from scratch with all new tenant improvements. The additional space will make Greenberg Traurig, which has been in the Water Garden for about 10 years, the largest tenant at the 1.2-million-sf, eight-building complex. The space is designed to provide room for the law firm to meet its growth plan of more than 150 professionals in its Los Angeles office.

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