X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Trizec Properties has signed new and renewing tenants to six leases totaling 100,000 sf at its one-million-sf office tower at 601 S. Figueroa St. Downtown. The financial terms of the leases were not disclosed, but asking rates at the building, known as Figueroa at Wilshire and formerly known as Sanwa Bank Plaza, range from $23 to $27 per sf per year, triple net.

New tenants include Luce, Forward, Hamilton & Scripps and ING Clarion Partners. Those renewing include Morgan Stanley, Knott & Glazier LLP, Liberty Mutual and Yomiuri New Inc.

Anthony Manos, Trizec’s SVP for the company’s Southern California Region, sees the deals as a sign of “ongoing corporate migration and growth” into Downtown Los Angeles. He observes that new development and redevelopment in the city’s core are bringing more retail and residential activity Downtown, which in turn is driving demand for office space.

Morgan Stanley was one of the first tenants ever to occupy the 52-story tower when it was completed in the 1980s, according to Cynthia Newman, complex manager at Morgan Stanley. The financial firm, which signed a long-term, 40,000-sf renewal for occupancy on two floors, was represented by Leland Bruce of the Staubach Co., with Allan Polley of Hines and John Barganski, VP of leasing for Trizec, representing the building ownership.

Luce, Forward, Hamilton & Scripps, a San Diego-based law firm, signed a 30,000-sf lease expansion for an entire floor and a portion of a second floor that it will occupy in December. The law firm was represented by Jim Travers and Stewart Niles of Travers Realty.

ING Clarion Partners, a real estate advisory and management services firm, signed a 13,000-sf lease for its new Southern California headquarters. The company, which will occupy the space in October, was represented by Patrick Nally, Rick Buckley and Brad Feld of Madison Partners.

Knott & Glazier LLP, a business litigation firm, signed for 11,000 sf in an extension. The firm was represented by Mitchell Leit from Cresa Partners, with Barganski representing building ownership.

Insurer Liberty Mutual signed a 4,000-sf renewal, with Andrew Lustgarten, Craig Jablin and Leron Nelik of Studley representing the tenant. Yomiuri New Inc., a media company, signed a lease renewal for 2,000 sf with Barganski representing building ownership.

Carl Muhlstein, Anthony Gatti and Andrew Goodman of Cushman & Wakefield represented Trizec in the transactions involving Luce, Forward, Hamilton & Scripps, ING Clarion Partners, Liberty Mutual and Yomiuri New Inc.

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?

 

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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.