New Line has been in the Pacific Theatres building at 16 N.Robertson Blvd. for about 10 years and, "It was imperative to theirbusiness that they maintain this ideal Los Angeles address,"according to Mark Sullivan, EVP and Southern California regionalmanager for Studley. Sullivan, assisted by senior managing directorL. Craig Lemle in Studley's New York office, represented NewLine.

New Line, a Time Warner subsidiary with operations on bothcoasts, had occupied the ground floor, floors two through six, andmost of floor seven in the building. Under the new, 10-yearrestructured deal, New Line will expand its occupancy by nearly8,000 sf, allowing it to occupy the balance of the seventh floorand expand to the ninth floor.

The deal also includes a substantial allowance for renovation ofNew Line's existing premises, as well as plans to upgrade the mainbuilding lobby and other common areas of the project. Terms of thelease were not disclosed, but industry sources peg its value at $30million.