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LOS ANGELES-The Strategic Financial Group of Northwestern Mutual Financial Network has relocated its Downtown offices from its former space at 888 W. Sixth St. to 64,000 sf at Thomas Properties Group’s City National Plaza. The Northwestern unit has moved into the space in a 17-year deal as part of the expansion of its office network in Los Angeles, according to Robert Kerrigan, managing partner.

Strategic Financial Group’s new space is in the 515 S. Flower St. portion of City National Plaza, one of two 51-story office towers at the 2.7-million-sf complex. Kerrigan says that Strategic Financial sought the new space to help accommodate long-term growth for the 40-year-old Northwestern Mutual unit, which provides financial services and products such as life insurance, disability insurance, long-term care, investments, estate analysis and employee benefits.

Some 200 Strategic Financial staffers will occupy two and a half floors at the 515 S. Flower St. offices. In addition to its Downtown expansion, Strategic Financial plans to open a new office in West Los Angeles this summer and has expanded in other western markets as well in recent years, including growth in Irvine and Las Vegas.

The first Northwestern Mutual office opened in Los Angeles in 1900, and SFG/Los Angeles today is one of the largest of the 350 Northwestern Mutual offices across the country. Northwestern Mutual Financial Network is the marketing name for the sales and distribution arm of the Northwestern Mutual Life Insurance Co.

The SFG/Northwestern deal was brokered by Ted Simpson in the Downtown office of Cushman & Wakefield. Financial terms of the deal were not disclosed, but another recent deal at the neighboring 555 S. Flower St. tower was inked at about $2.80 per sf per month.

City National Plaza occupies an entire city block in the financial district of the Los Angeles Central Business District. Originally completed in 1972 as the world headquarters for Atlantic Richfield and the Southern California Headquarters for Bank of America, the plaza consists of the two 51-story office towers, one plaza level building and four subterranean levels.

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